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Gleadell Fertiliser Report

By Calum Findlay, Gleadell Agriculture fertiliser trader.

Calum Findlay, Gleadell Agriculture fertiliser trader, comments:

Ongoing tenders in India are continuing to firm the Urea market and the reports of urea shortages in some states, evident in the Indian press, has helped producers everywhere to move prices higher.

Ukraine producers have withdrawn from the market. Fresh demand from Latin America, in addition to firm international grain prices, will all lend support and allow fertiliser to trade at higher levels.

In Europe, CAN prices have all moved higher, and Yara in France have announced higher AN prices this week. This will be mirrored in the UK, and prices are expected to be stepped up significantly once Yara and GrowHow release new terms for October/November.

Imported product can be sourced but, with higher gas prices in the Ukraine and Ammonia prices moving higher, a 5 – 8/tonne discount to UK national product is all that can be expected.  Lithuanian is the only real alternative, guaranteed to spread 24m and Gleadell have product to offer in the October position.

Strong demand from India and Latin America is keeping the Phosphate market firm and there are clear indications that the US domestic market is also short.

The Russian Government have abandoned plans to reintroduce an export duty on Potash, prices remain stable.

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