Global Fertiliser Price Reductions Must Be Passed on to Farmers
IFA President Tim Cullinan says that Merchants and Co-ops must pass on the significant reductions in global fertiliser prices to farmers.
“We have seen a sustained significant drop in the price of natural gas of up on 85% since September 2022. The spike in natural gas prices was referenced as the main driver of increased fertiliser prices last year. Therefore, we should now be seeing a significant reduction in fertiliser prices in line with what is happening with gas. But that’s not happening,” Tim Cullinan said.
“If we look at our neighbours in the UK the price of granulated urea to farmers has decreased by over 40% since last September. Similar decreases are been seen in most other markets, with the exception of here in Ireland. With production of fertiliser now returning to normal levels in the Europe after widespread curtailments last year these price decreases look like continuing,” he said.
“It is time to stop the profiteering and reduce prices to farmers. Fertiliser companies made huge profits due to rising markets in 2022, they need to lead the price down in 2023 instead of looking for another windfall,” Tim Cullinan added.
“Many sectors of Irish Agriculture struggled in 2022 with the cost of inputs, we cannot let this happen again in 2023, especially seeing as internationally the price of these inputs has fallen significantly. A large cost on many farms is fertiliser, with much of this is bought in the spring, Therefore, I am calling on all co-ops and merchants to step up and pass on these price reductions immediately,” the IFA President concluded.