Record high oil prices pushed the cost of red diesel up by another 2p/litre last month, according to the latest NFU/ Farmers Weekly Inputs Price Monitor figures.
Farmers paid an average of 65.27p/litre for red diesel in March, with some prices up to 68p/litre. White diesel increased even more, from 108p/litre in February to 115p/litre last month.
“Although the 1p/litre cut in duty announced by the Chancellor at the end of March doesn’t look to have delivered relief from the prevailing market conditions, the delay in any increase in duty until January 2012 has provided some respite,” said NFU regulatory affairs adviser, Peter Garbutt.
Urea prices have fallen slightly over the past month and there are reports the ammonium nitrate price may also be easing. However, potash prices of £379/t were well above levels reported by other industry sources, he said.
The EU is currently considering a review of the trade defence measures in place on potash imports.
• Go to www.fwi.co.uk/IPM to take part in the April survey.