IFA Inputs Project Team Leader Chris Hayes warned farmers not to rush into buying fertiliser as prices continue to fall.
Chris Hayes said, “Retail fertiliser prices are coming under increasing downward pressure as international wholesale prices continue to fall. Granular urea prices at the yearend had fallen by $125/t since October 2011. The falling prices have been partially reflected in on farm quotes which started off the season at €470/t but have since fallen below €425/t. A number of industry sources say that keenest quotes for urea have the potential to fall under €400/t for volume orders over the coming weeks.”
“While official quotes for wholesale bulk CAN (cif Germany) remain around the €285/t mark deals are reportedly being done from €15/t to €20/t under. On farm quotes commenced the season at €325/t to €330/t but have since fallen to €315/t and under. Once again the expectation is for CAN to fall under the €300/t mark.”
“Farmers should remain vigilant and not rush into buying volumes as prices have the scope to fall further.”