Fertiliser price dip not being passed on to farmers
Published 17/02/2016 | 02:30
Irish farmers are not seeing the impact of the global fall in fertiliser prices, the ICMSA has warned.
John Comer, president of the ICMSA, said farmers are facing into a difficult 2016 and fertiliser suppliers, in particular the co-ops, must move to ensure prices reflect the drop in energy prices worldwide.
"Based on ICIS fertiliser data, global nitrogen prices were approximately 25pc lower in December 2015 compared to January 2015," he said. "This is due to an over-capacity in the nitrogen sector along with new low prices for gas in Europe and coal in China, two key factors influencing nitrogen production."
Phosphate prices are expected to remain weak on the global market having dropped 6pc in the final quarter of last year, with the fall in oil prices seen as a factor.
Potash prices have also fallen by over 10pc since April 2015. Mr Comer said the fall in input costs must be reflected in prices.