Early buyers boost nitrogen business
By Roger Chesher
THE nitrogen market has become quite active as confidence in the wisdom of buying early grows, creating welcome queues of lorries at the factories and steadily diminishing stocks.
The three majors have, as expected, closed their July books and now operate on August prices of 110-112/t delivered on farm.
No September price is known as yet, but it would be reasonable to expect a further rise of 2/t, like last year.
As is usual in an active market, there are slightly keener prices to be found while merchants compete for volume.
Some are prepared to take a low margin, or chip in part of a bonus, but this only amounts to a pound or two.
A glance at the classified ads in FARMERS WEEKLY will find imported ammonium nitrate available off the dock at 88/t.
This is ex-stock, not newly arrived, and is available in significant tonnages down the East Coast and in South Wales.
The same material is offered by various merchants on farm delivered around 94/t.
Importers will have built stocks anticipating high volume, profitable sales this spring.
Following the significant downturn in that market, aggressive de-stocking is inevitable and provides the opportunity for a bargain.
New material is unlikely to be imported in significant amounts until older stock is cleared.
Sulphur is once more attracting interest following widespread reports by agronomists of heightened deficiencies.
The autumn PK market remains slow at present.
New-season nitrogen (SP5) 34.5% | September domestic nitrogen | Imported urea (if available) | Imported AN |
Blended 20.10.10 and 25.0.16 | Blended 25.5.5 | Liquid nitrogen, 37kg/100l or 29.6% N/t |
August 110-112 | Not published | Granular 118-120 | 88 ex-dock 94-98 delivered |
116-117 | 113-115 | No market |
NPK | July, pay cash | NS products |
Complex 25.5.5 | 118-120 | 110-112 |
15.15.20 | 143 | |
20.10.10/29.5.5 | 121 | |
17.17.17 | 148 |
After-cut NK cash | 0.24.24 | TSP (47% P2O5) bagged | Muriate of Potash (60% K2O) bagged |
118 | 110-114 | 125 | 122 |
IRELAND CAN 24.6.12 0.16.36 Complex compounds
Forecast spring prices
Urea
27.6.6
Northern Ireland
No market
110
130-135
No market
130
CAN | 24.21/2.10 | Urea, imported | 27.21/2.5 | |
Republic of Ireland* | 140-145 | 175 | No market | 170-175 |
*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
Note All illustrated prices are based on 20-tonne loads for immediate payment. Prices for smaller loads and those with credit terms will vary considerably.
Source: Bridgewater Partnership