FERTILISER prices are bumping along the bottom and market commentary is notoriously difficult.

At this time of year, fertiliser suppliers would normally be in the early stages of making markets.

In the old days of market stability, prices were always highest at the spring period with structured discounts for early deliveries starting in June.

Such a structure has long gone but one would normally begin to get a feel for the anticipated new season nitrogen price.

With the market at or near the bottom there is little evidence that the new season will start at a different level than at present.

It is, however, almost certain that the major manufacturers will do their utmost to establish a little more structure into the marketplace.

:”Trust”, where a merchant would take an order and settle the price later, will be under pressure to disappear and credit terms could well be shorter.

This could persuade farmers to transfer both cost and risk to the bank or to the few remaining farm finance companies.

Arrivals of imported ammonium nitrate have dried up. The incentive to import is low, so even though prices wont change perhaps the larger companies will have a chance to firm up terms and conditions.

European potash prices have edged up slightly and consequently PKs have firmed a little.

The aftercut silage market has settled in the south but in the north and Scotland group prices have been quoted as low as £87-88/tonne.

This market is just starting in Ireland with prices under pressure and plenty of transport to keep product moving cheaply.

Individual farmers continue to buy only as needed and it is important to recognise that the price for a small load can be £14-15/t more expensive than the group and 20/t prices illustrated here.

CURRENT MARKETS

 

 

20.10.10

complex/blend*

KN

KNS

20.5.15

AN (Import)

AN (Domestic)

England/Wales Grassland Markets

110-115/

105-110

90-92

90-92

90-92

80-84

92

England Arable Markets

No Market

93-96

93-96

93-96

80-81

Not active

Scotland

108-112/

103-108

88-95

88-95

88-95

80

93

*Complex fertilisers are those where typically all nutrients are combined in one granule.

 

IRELAND

 

CAN

27.6.6 complex

25.5.5 complex

24.6.12 complex

Northern Ireland

96-100

128-130

118-120

125-128

 

CAN

27.2Omega.5

18.6.12

10.10.20

Republic of Ireland*

102-105

140-145

143-150

156-160

*Note in the Republic of Ireland nutrients are expressed as elements not oxides. Analyses will not be directly comparable with those used in the UK..

*Prices in the Republic are IR£

 

FORTHCOMING MARKETS

Anticipated general prices from 01 June

AN (Import)

AN (Domestic)

N/S (High S)

N/S (Low S)

PK. 0.24.24

78-80

88-92

92

88-92

120

 

BACKGROUND MARKET

Products not currently traded in volume

0.24.24

15.15.20

17.17.17

122

130-135

135-140

Note All illustrated prices are based upon 20 tonne loads for immediate payment. Prices for smaller loads and those with credit terms will vary considerably.

Source: Bridgewater Associates