Gleadell Fertiliser Report

• Granular Urea has gained further ground in Egypt this week as prices have firmed another 8 to 10/tonne.
• Prilled Urea prices appear to have stalled, but with the spread now 30/tonne between Granular and Prilled, either one comes down or one goes up to narrow the gap which is too large at present.
• GrowHow and Yara, after watching the market for several weeks, have finally released Nitrogen terms for October which reflect a staggering 20/tonne increase on their last offers. Although not totally surprising considering the current firmness of International nitrogen prices, this still comes as shocking news for those waiting or not able to buy.
• Imported AN and CAN are also very firm as the supply of all nitrogenous products in all areas remains very tight.
• If you are buying Nitrogen on a cost per unit basis despite the price rises, Granular Urea remains the best buy by a mile.  Gleadell, as the leading supplier of this product to the UK, have terms for November and December delivery something GrowHow or Yara are not willing to do on Ammonium Nitrate.
• Phosphate prices remain under pressure as producers are fully committed through until September and now appear happy to sit and see how the market develops.
• Potash prices are very static, business is typical for the time of year and, despite producers wishes to move prices higher, today cheaper Russian product arriving in to the UK will perhaps keep a lid on prices for the time being

For further information contact Calum Findlay, fertiliser trader on 01427 421244 calum.findlay@gleadell.co.uk

1)  Prices quoted are indicative only at the time of going to press and subject to location and quality.
2)  Gleadell Agriculture cannot accept liability arising from errors or omissions in this publication.
3)  mln/t = million tonnes, mt = metric tonnes, kg/hl = kilogram per hectolitre, k/mt = thousand tonnes.