Gleadell Fertiliser Report
FERTILISER MARKETS by Calum Findlay, fertiliser trader.
FERTILISER MARKETS
NPK compounds are firm, with 15-15-15 and 16-16-16 trading up in Europe 10-15pt on early February prices. This follows strong phosphates prices and the recent hike in EU nitrates levels.
India continues to stall in contract pricing any forward Phosphate – this is only adding to the bullish tone of the market.
New Potash prices have yet to be announced in the UK and, with demand slower than expected due to cold/wet weather, any rises are likely to be minimal.
Ice remains a major problem in the Baltic with ship owners now demanding higher rates for shipments of product. Add this to higher oil prices, and freight rates are firming.
Offers for FSU ammonium nitrate are extremely limited as product continues to be directed towards the growing domestic market.
Yara and GrowHow have moved nitrogen prices up again in the UK, bringing prices in to line with price increases announced two weeks ago in France. The whole of the European AN market is extremely tight.
Urea, on the other hand, has witnessed a downward correction in pricing which represents a buying opportunity. Conditions in the UK remain cold – so the advice today has to be keep AN already bought in store and use this for later applications. Instead buy Urea for all early dressings.
On a price per unit basis, Urea represents an incredible 25% saving when compared to Ammonium Nitrate.
With regard to Libya, the lost urea production here will be prilled and it appears likely that around 300,000 to 400,000 tonnes of production will be lost.
FERTILISER market information contact Calum Findlay, fertiliser trader on 01427 421244 calum.findlay@gleadell.co.uk
- Gleadell Agriculture currently has offices in Full Sutton (Yorkshire), Hemswell (Lincolnshire), Swaffham (Norfolk), Lyndon (Rutland), Warminster (Wiltshire) and Bilsborrow (Lancashire).
- Gleadell Agriculture Ltd is equally owned by Toepfer International – based in Hamburg, who trade in all agricultural products globally; and InVivo – based in Paris, who trade agricultural products on the international markets and operate major grain storage and handling facilities.
- Prices quoted are indicative only at the time of going to press and subject to location and quality.
- Gleadell Agriculture cannot accept liability arising from errors or omissions in this publication.
- mln/t = million tonnes, mt = metric tonnes, kg/hl = kilogram per hectolitre, k/mt = thousand tonnes.
