Capacity ("000" MT)

Propose
Manufacturers Product Existing d
FFC Urea 1,905 2,055
Engro Urea 850 940
FFBL Urea 550 760
DAWH Urea 445 445
Pak American Fertilizer Urea 350 350
Pak China Fertilizer Urea 105 105
Pak Arab Fertilizer Urea 95 95
Total Capacity 4,300 4,750
FFBL DAP 450 670
Total Capacity 450 670
Pak Arab Fertilizer CAN 450 450
Total Capacity 450 450
Lyalpur Fertilizer SSP 90 90
Hazara Fertilizer SSP 90 90
Total Capacity 180 180
Pak Arab Fertilizer NP 305 305
Engro NPK 100 100
Existing Capacity 405 405
Grand Total Capacity 5,785 6,455
 Urea Prices

(Per Bag) CY96 CY97 CY98 CY99 CY00 CY01 CY02

January 317 358 351 357 327 385 389

February 317 358 353 357 326 386 409
March 311 358 353 353 326 389 411
April 323 355 351 352 324 391 411
May 324 348 351 349 323 391 411
June 322 345 349 349 322 391 411
July 326 344 352 344 325 392 425
August 328 346 352 342 331 392 425
September 328 347 351 341 340 391 425
October 327 346 353 339 350 388 425
November 338 347 351 338 363 388 425
December 350 348 354 327 381 388 425

Average price 326 350 352 345 336 389 416

% change 7% 0% -2% -3% 16% 7%

July % change 1% 0% 1% -2% 1% 0% 3%

CY03 CY04 CY05 CY06 CY07 CY08

425 427 481 514 532 587 5%

425 430 497 514 535 602
417 432 484 512 532 618 3%
417 433 484 514 530 611
415 435 484 516 529
414 442 494 516 528
421 458 505 525 532
417 457 503 524 536 1%
416 453 500 522 536 0%
416 451 498 523 538
419 456 500 522 541
422 472 508 525 562

419 445 495 519 536 605

1% 6% 11% 5% 3%

2% 4% 2% 2% 1%
('000 tons) CY82 CY83 CY84 CY85 CY86 CY87 CY88

January 216 250 276 216 235 284 332

February 90 132 52 129 146 199 203
March 28 28 22 39 84 74 50

April 30 25 26 31 37 52 51
May 93 70 77 80 65 99 108
June 138 178 126 99 143 200 237

July 166 172 110 191 238 268 197

August 193 180 192 213 278 265 282
September 74 50 86 114 143 97 125

October 53 54 39 53 56 92 81
November 106 105 76 90 146 108 189
December 248 324 333 363 393 291 278

Total 1,433 1,569 1,415 1,616 1,965 2,031 2,133

% change 9% -10% 14% 22% 3% 5%
 Urea offtake

CY89 CY90 CY91 CY92 CY93 CY94 CY95 CY96

304 264 368 295 289 313 335 355

222 261 214 279 280 249 266 326
121 137 117 121 238 180 197 301

66 111 116 160 235 140 106 197

120 192 276 228 192 182 170 277
203 267 217 203 267 329 456 355

200 215 227 226 258 271 274 402

263 270 272 322 301 295 305 423
203 154 153 205 221 113 286 289

119 113 86 129 151 112 283 255

200 165 176 155 283 299 248 363
309 327 353 313 370 531 443 400

2,330 2,476 2,575 2,635 3,085 3,014 3,369 3,941

9% 6% 4% 2% 17% -2% 12% 17%
CY97 CY98 CY99 CY00 CY01 CY02 CY03 CY04

311 418 412 396 401 550 268 394

247 320 383 338 346 216 321 280
119 210 155 114 258 140 126 178

136 136 144 124 109 132 99 148

305 285 305 273 226 268 381 314
393 406 433 513 401 606 610 643

456 450 434 527 449 418 503 511

345 380 428 382 448 429 396 449
197 211 194 215 219 184 236 339

118 169 99 253 143 166 238 223

323 438 327 389 342 438 447 504
572 437 744 538 674 821 840 734

3,523 3,861 4,058 4,061 4,015 4,367 4,466 4,716

-11% 10% 5% 0% -1% 9% 2% 6%

3.46 3.90 4.01 3.90

CY05 CY06 CY07 CY08

393 563 365 583 60%

403 412 238 391 64%
362 365 217 429 98%

326 276 189 390 106% -32% -13%

401 388 379 -2% 101%
476 585 599 2%

509 433 668 54% 12%

452 383 464 21%
376 325 239 -26% -26% -48%

378 173 225 30%

404 493 574 16%
698 839 715 -15%

5,178 5,234 4,872 1,793 -7%

10% 1% -7%

3.76 3.47 3.53 22.70

55%
53%
50%
50%
42%
43%
46%
42%
328.9
('000 tons) CY82 CY83 CY84 CY85 CY86 CY87 CY88

January 8 7 9 16 27 36 23
February 6 8 10 9 11 21 13
March 3 11 13 11 11 17 25

April 7 12 11 13 11 29 19
May 11 26 19 30 19 55 31
June 9 24 21 12 25 43 26

July 12 15 16 18 34 27 19
August 11 6 9 18 12 16 11
September 8 3 16 18 17 40 18

October 29 27 50 48 48 43 43
November 109 120 119 158 188 156 101
December 80 74 73 132 141 130 135

Total 292 334 366 484 543 614 462

% change 14% 10% 32% 12% 13% -25%
 DAP Offtake

CY89 CY90 CY91 CY92 CY93 CY94 CY95 CY96

34 45 41 65 67 35 50 18
14 20 18 18 39 37 17 13
13 25 19 15 23 102 26 16

22 19 20 11 17 18 17 17
33 36 40 16 45 9 10 25
41 44 35 35 65 22 34 69

12 33 46 43 101 20 40 54
23 25 21 38 102 17 26 43
16 25 56 32 29 39 39 112

34 74 63 81 73 142 66 161
139 130 142 160 145 202 165 150
128 112 122 144 134 99 129 69

508 589 623 659 838 743 618 748

10% 16% 6% 6% 27% -11% -17% 21%
CY97 CY98 CY99 CY00 CY01 CY02 CY03 CY04

11 58 26 39 42 28 29 40
11 37 21 35 18 16 22 16
10 22 21 26 58 32 80 25

15 28 31 37 38 31 12 30
29 59 54 69 40 52 35 35
33 77 79 97 115 93 53 41

60 66 53 121 139 67 87 174

45 51 70 131 188 97 35 106
46 53 32 97 72 79 71 148

194 66 150 136 78 135 255 258

265 183 308 257 272 359 301 219
126 135 130 157 102 130 132 117

845 835 975 1,203 1,160 1,119 1,113 1,208

13% -1% 17% 23% -4% -4% -1% 9%
CY05 CY06 CY07 CY08

31 31 55 39 -29%
20 32 54 12 -78%
40 79 72 22 -69%

47 66 45 6 -87% -38%
68 60 93 55% 107%
137 93 145 56%

166 107 144 35%

114 32 77 141% -47%
129 34 74 118% 118%

255 381 202 -47%

264 397 327 -18%
106 197 91 -54%

1,376 1,508 1,379 79 -9%

14% 10% -9% -94% -190%
 DAP Prices
CY97 CY98 CY99 CY00 CY01

(Per Bag) Domestic Prices (Per Bag)

January 561 570 700 627 692

February 560 575 699 624 696
March 561 584 699 610 691
April 560 592 697 590 690
May 559 594 696 578 676
June 560 590 688 573 657
July 558 594 680 570 647
August 559 592 680 600 661
September 557 607 679 645 724
October 559 621 666 703 728
November 564 691 645 709 731
December 566 705 635 707 730

Average 560 609 680 628 694

% change 9% 12% -8% 10%

Oct % change 0% 2% -2% 9% 1%

235
104
(1)
 CY02 CY03 CY04 CY05 CY06 CY07 CY08

mestic Prices (Per Bag) Domestic Prices (Per B

719 746 906 1,033 1,089 873 1,702 23%

715 741 980 1,032 1,084 882 2,229 1%
718 758 1,013 1,016 1,068 944 2,728 22%
716 816 1,003 1,014 1,057 1,113 2,779 2%
712 819 1,000 1,020 1,056 1,088 -2%
718 812 978 1,030 1,062 1,099 1%
734 824 935 1,058 1,075 1,190 8%
744 823 927 1,086 1,077 1,256 6%
748 822 952 1,085 1,077 1,275 2%
751 834 970 1,100 911 1,303 2%
756 888 1,036 1,107 870 1,355 4%
754 890 1,045 1,104 871 1,386 2%

732 814 979 1,057 1,025 1,147

6% 11% 20% 8% -3% 12%

0% 1% 2% 1% -15% 2%
Domestic Prices (Per Bag)
 NFC Kissan UreaFFC Sona Urea
Jan-03 407.70 417.90
Feb-03 407.80 418.00
NFC's Kissan Urea has historically traded at a discount
Mar-03 407.20 417.10
Apr-03 407.50 417.30 NFC Kissan Urea FFC Sona Urea
### 403.90 414.70 550.00
Jun-03 403.40 413.60
525.00
Jul-03 410.30 420.90
500.00
Aug-03 407.40 417.00
Sep-03 407.07 416.30 475.00
Oct-03 405.55 416.08 450.00
Nov-03 407.30 418.70 PRs/bag 425.00
Dec-03 410.40 422.20 400.00
Jan-04 415.20 426.50 375.00
Feb-04 420.68 430.21 350.00
Mar-04 421.10 432.17
325.00
Apr-04 420.50 432.64
300.00
### 421.02 434.85

M
0
3
O

0
4
n

u
l-
a

t-

r-
0
3

0
5
c

a
-
J

J
Jun-04 428.60 442.26
Jul-04 447.29 458.37
Aug-04 446.91 457.03
Sep-04 444.17 452.46
Oct-04 443.00 450.96
Nov-04 446.47 455.83
Dec-04 446.89 472.17
Jan-05 471.25 480.69
Feb-05 482.93 496.77
Mar-05 470.72 484.08
Apr-05 470.79 483.65
### 472.64 484.06
Jun-05 482.84 493.89
Jul-05 500.00 510.50
Aug-05 498.90 506.70
Sep-05 496.00 503.00
Oct-05 495.00 500.00
Nov-05 497.00 502.50
Dec-05 504.40 512.00
Jan-06 515.40 521.70
Feb-06 509.20 519.30
Mar-06 508.00 516.00
Apr-06 510.30 516.80
### 512.80 519.20
Jun-06 513.20 519.20
Jul-06 520.40 529.60
Aug-06 519.10 528.70
Sep-06 516.90 527.30
Oct-06 517.10 528.50
Nov-06 516.00 527.40
Dec-06 519.80 530.60
Jan-07 524.00 539.00
Feb-07 528.00 542.00
Mar-07 526.00 538.00
Apr-07 524.00 536.00
### 523.00 535.00
Jun-07 521.00 534.00
Jul-07 524.00 540.00
Aug-07 528.00 544.00
Sep-07 528.00 543.00
Oct-07 530.00 545.00
Nov-07 534.00 547.00
Dec-07 554.00 569.00
Jan-08 581.00 593.00
Feb-08 594.00 610.00
Mar-08 614.00 622.00
Apr-08 607.00 615.00
###
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
###
as historically traded at a discount to FFC's Sona Urea

NFC Kissan Urea FFC Sona Urea

M

D
0
4

0
6
u

p
l-

e
t-

r-

0
5
e
0
3

0
5

c
a

-
J

-
DAP imports FY08 Subsidy/bag Subsidy/ton Subsidy quantity Subsidy amount
July 139,829 470 9,400 184,308 1,732,495,200
August 97,417 470 9,400 140,440 1,320,136,000
September 147,244 470 9,400 188,070 1,767,858,000
October 137,213 470 9,400 170,221 1,600,077,400
November 210,231 470 9,400 246,555 2,317,617,000
December 134,365 470 9,400 142,606 1,340,496,400
January 207 470 9,400 207 1,945,800
February 48,580 470 9,400 48,580 456,652,000
March 88,591 470 9,400 88,591 832,755,400
April 3,181 470 9,400 55,468 521,399,200
May 470 9,400 52,287 491,497,800
June 470 9,400 52,287 491,497,800
1,006,858 12,874,428,000
Production
FFC FFBL ENGRO
CY07 Urea Urea DAP Urea NP
January 209,715 52,782 42,066 89,180 1,743
February 188,339 48,053 37,477 80,491 810
March 207,314 33,538 41,599 87,318 -
April 189,574 - 1,737 84,836 6,107
May 206,124 11,521 14,923 87,201 7,106
June 195,689 11,392 13,003 46,502 805
July 202,818 45,696 44,479 87,368 3,926
August 199,977 53,193 43,023 45,710 2,406
September 156,632 58,069 40,826 83,496 3,583
October 184,264 55,989 33,008 84,906 2,272
November 183,549 57,206 36,324 85,988 7,307
December 195,265 38,079 8,241 88,387 950

Total 2,319,260 465,518 356,706 951,383 37,015

CY08
January 209,223 48,078 - 86,290 -
February 200,376 54,411 - 83,006 -
March 192,888 54,411 - 86,240 4,880
April 182,702 57,378 52,287 86,240 2,112
May 200,000 53,000 52,287
June 200,000 53,000 52,287
July 200,000 53,000 52,287
August 190,000 53,000 52,287
September 200,000 53,000 52,287
October 190,000 54,000 52,287
November 190,000 54,000 52,287
December 190,000 54,000 52,287

Total 2,345,189 641,278 470,583 341,776 6,992

156,900 -
163,378 156,861
159,000 156,861
162,000 156,861
ENGRO
NPK
2,549
10,346
14,295
4,026
2,005
9,666
9,797
5,382
7,909
12,273
8,394
2,496

89,138

8,905
12,523
7,365
366

29,159
Off-take
FFC FFBL ENGRO
CY07 Urea Urea DAP Urea NP
January 141,209 40,693 35,264 74,745 1,261
February 130,745 36,053 42,763 41,490 2,417
March 128,982 28,209 44,521 21,689 360
April 103,510 8,234 3,115 43,214 5,932
May 201,738 23,272 11,265 81,406 5,324
June 301,177 18,902 6,800 127,399 2,492
July 331,855 51,081 40,509 110,901 3,837
August 193,142 44,770 36,595 65,476 2,509
September 102,849 28,603 30,447 46,570 3,496
October 103,835 33,877 50,239 37,485 2,633
November 242,231 80,346 46,394 110,786 6,003
December 316,397 80,151 3,788 112,620 2,314

Total 2,297,670 474,191 351,700 873,781 38,578

CY08
January 224,205 65,473 7,329 142,818 13
February 198,828 46,822 434 84,237 -
March 184,522 54,411 3,000 80,242 192
April 179,591 71,935 1,536 72,573 6,248
May 36,000 51,000
June 26,000 50,000
July 53,000 50,000
August 53,000 52,287
September 53,000 52,287
October 76,000 52,287
November 75,000 52,287
December 75,000 52,287

Total 787,146 685,641 424,734 379,870 6,453

166,706 10,763
133,935 102,536
159,000 154,574
226,000 156,861
ENGRO
NPK
2,610
10,848
20,189
3,255
2,007
8,577
250
6,411
8,282
13,958
11,486
2,062

89,935

5,541
7,927
6,048
1,943

21,459
Imports

FFC (including FFBL) ENGRO

CY07 Urea SOP DAP Urea DAP
January - - - - -
February - - - - -
March - - - - -
April - - - - 61,286
May - - 9,188 - 33,174
June - - 27,406 - 97,009
July - - 25,340 - 66,040
August
September - - 1,850 - 119,031
October - - 33,210 - 22,420
November 57,411 - 34,647
December 11,570 - 42,150 4,453 49,986

Total 11,570 - 196,555 4,453 483,593

CY08
January 22,674 3,503 - 6,864 207
February - 3,179 - - 21,784
March 13,848 4,535 24,013 5,472
April 1,432 6,311 - - -
May
June
July
August
September
October
November
December

Total 37,954 17,528 24,013 6,864 27,463

ENGRO
MAP
-
-
15,980
-
-
8,355
-

9,240
-
18,896
8,658

61,129

-
26,324
-
-

26,324
Imports

FFC (including FFBL) ENGRO

CY07 Urea SOP DAP Urea DAP
January 1,541 2,589 311 493 78
February 3,235 5,002 465 808 131
March 3,333 4,694 - 265 107
April 1,283 4,036 - 30 31,592
May 550 492 - 88 57,205
June 4,401 - 252 1,998 51,082
July 23,332 5 57,200 10,662 29,098
August 43,634 31 2,657 23,942 30,460
September 5,000 79 5,925 17,581 222,601
October 52 5 22,832 1,622 96,404
November - 3 90,409 326 82,455
December 10,615 - 30,778 11,651 34,542

Total 96,976 16,936 210,829 69,466 635,755

CY08
January 22,972 - 16,960 14,643 6,878
February 654 939 56 4,382
March 10,920 649 38 144 3,689
April 3,070 256 71 1 310
May
June
July
August
September
October
November
December

Total 37,616 905 18,008 14,844 15,259

ENGRO
MAP
79
81
197
13,802
926
9,544
34
3
8,537
4,414
10,460
13,369

61,446

504
1,290
129
5

1,928
Product prices

CY07 TSP AS NP SSP (Powdered)SSP (Granular)

January 610 790 614 233 283
February 625 790 615 236 284
March 642 790 636 264 296
April 683 790 703 293 335
May 761 784 749 311 355
June 800 780 757 314 364
July 810 776 798 329 385
August 819 789 857 361 406
September 849 815 867 368 415
October 908 789 904 374 424
November 952 780 930 388 442
December 1,170 780 952 386 453

Total 802 788 782 321 370

CY08
January 1,308 808 1,146 428 493
February 1,468
March 1,824
April
May
June
July
August
September
October
November
December

Total 1,308 808 1,479 428 493

CAN SOP MAP (US $)
392 900 320
395 914 330
395 909 400
395 922 415
394 956 420
399 969 430
404 970 435
411 991 440
419 1,020 450
406 1,032 460
407 1,066 460
416 1,109 580

403 980 428

435 1,218 680

1,792 850
2,256 1,000

435 1,755 843