Farmers are being 'held to ransom' by fertiliser industry'
The IFA has described the EU's fertiliser market as completely dysfunctional and claimed farmers were being held to ransom by Europe's fertiliser industry.
The IFA broadside follows attempts by a number of leading European fertiliser manufacturers to push through price increases over recent weeks.
The price of CAN has increased by at least €30/t since October when delivered bagged CAN was available for €175-185/t.
This week, CAN prices ranged from €205/t to €225/t for bagged product, with most deals being done at €215-225/t.
Buyer groups in the east of the country were doing deals for bulk CAN at over €200/t mark.
There was some confusion regarding urea prices. IFA sources claimed the keenest quotes for bagged urea this week were €280-290/t for bagged product.
However, buyer groups were quoting around €300/t for bulk product, which puts bagged urea at €310-320/t. But industry commentators claimed prices had jumped €60-70/t and were heading towards the €350/t mark.
Prices for NPK compounds such as 18-6-12 and 27-2.5-5 commenced the season at €275/t to €280/t, and moved to €305/t to €310/t this week - 24-2.5-10 is trading at €10/t over these prices.