Trade and farmer purchases of new season fertiliser stock pre-Xmas particularly were significantly back on the previous year as nitrogen prices had ratcheted up pretty steeply from mid-August 2018 onwards.
The unusually mild February saw spot demand for fertiliser pick up but this eased over the past week as widespread heavy rain spread across the country. Many trade buyers and farmers are reluctant to purchase big volumes forward as international wholesale prices for straight urea and CAN continue to fall.
Despite the best efforts of importers and the trade to push new season prices significantly higher they are experiencing strong buying resistance from farmers. The larger dairy co-ops opened new season quotes for granular urea at €365/t, with CAN at €265/t and CAN + sulphur (26N + 3S) €10/t over CAN prices. These prices are still available to farmers who are volume purchasers / group buyers and are prepared to shop around. Keenest quotes for 18-6-12 + S are from €375/t to €380/t, with €25/t over for 10-10-20. All prices are quoted for big bags, delivered. Many of the larger buyer groups achieving significant discounts on the official quotes with extended credit terms.
Note: Prices quoted do not include buyer group discount for volume purchases