Price Monitor records another red diesel price drop in June

Fuel prices weakened in mid June, with prices at the end of the month closely matching those at the end of May.

The average red diesel price reported by those contributing to the NFU/Farmers Weekly Inputs Price Monitor for June was 64.7p/litre, a drop of 2.25p/litre on the May average.

However white diesel rose by 1.7p/litre to average 116.3p/litre in June, with a range of 110 to 125p/litre being paid by those who contribute their prices to IPM.

Fertiliser prices had surged as global demand for nitrogen continued to outpace supply, said NFU regulatory affairs adviser Peter Garbutt. “Current urea price looks to be 84-87p/kg N (£385-400/t) against a forecast August ammonium nitrate price of 100p/kg N (£347/t).”

Livestock producers paid an average of £36/t for brewers’ grains in June, and £85/t for big square bale wheat straw. Hipro soyabean meal averaged £310/t.

To see previous IPM results and to take part in the July survey, go to www.fwi.co.uk/IPM