No bargains left for fert
DOMESTIC AMMONIUM nitrate is no longer available at bargain prices, according to the major merchants.
While some existing orders are still being fulfilled, new ones can only be accommodated at the October cash price of £133/t.
This is a huge £16/t more than the July price and is still set to rise by £2/t per month until spring.
Imports do not currently present a cheaper alternative. Although some urea is still in stock, replacement granular material would sell at £175/t on farm.
Not surprisingly, little, if any, is being imported at this price.
Higher global urea prices have been encouraged by the announcement of the closure of a Terra plant in the USA.
However, this plant is mothballed already so a permanent closure will not alter the supply equation and prices may therefore fall back soon.
Ammonium nitrate imported from Georgia is currently available at £125-£128 but meaningful supplies of imports will not arrive until UK prices start to approach levels similar to the rest of the market.
Bad news too for cereal growers as blended 0.24.24 is also set to rise from £123/t to £128/t.
And, with Thursday‘s (Aug 5) rise in interest rates, offers of cheap finance for purchasing fertiliser are unlikely to last.
However, trade estimates suggest that up to 50% of cereal growers have benefited from the early season pricing by purchasing ammonium nitrate.
The contrast between them and spot buyers later in the season will rarely have been greater.
Nitrogen (Domestic) N (SP5) 34.5% | New season | Imported urea. | Imported AN Georgian | Blended | Blended | Liquid | |||||||||||
October £133 | £140
| Would be £175 but no market yet | £125-£128 | £130 | From £126 | No market yet | |||||||||||
NPK | August | Imported 27.6.6 | Imported | |||||||||
Complex 25.5.5 | £133 | £138 | £125-£128 | |||||||||
15.15.20 | £157 |
| ||||||||||
20.10.10/ 27.5.5 | £137 |
| ||||||||||
17.17.17 | £162 |
| ||||||||||
| Trace elements | 0.24.24 | TSP (47%P2O5) | Muriate of Potash (60%K2O) |
| Copper, zinc, selenium, cobalt Iodine and sodium Per acre pack £11.10 | Blended £128 | £142 | £129 |
Ireland
Benchmark prices. Compounds out of season.
Northern | Urea, existing stocks only | CAN | 24.6.12 aftercut | 25.5.5
| Complex compounds |
| £155-£160 | £130-£134 | £160 (anticipated) | £150-£152 | £160-£162 |
Republic of | CAN, large price variations | 24.2½.10 blend | Urea | 27. 2.5 . 5 | |
| €195 | €190-210 (Russian) €225-240 | €200-250 (dependant on source and quality) | €243 (CCF) €200 import blend | |
*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.
Note All illustrated prices are based upon 24 tonne loads for immediate payment. Prices for smaller loads and those with credit terms will vary considerably.
Source: Bridgewater
