Soaring fetiliser prices spook farmers and traders
FertiliSer prices are continuing to strengthen as they hit a 30pc increase on last year's levels.
In the past week, many merchants have quoted an extra €15 on nitrogen, with other blends up by at least €10/t. Worse news is to come as some merchants claim that they have absorbed another €15 increase on nitrogen prices from manufacturers that has yet to be passed back to farm customers.
Merchants have described the situation as a nightmare as they find themselves forced to lock in at higher prices for product six weeks ahead of delivery in the hope that the market won't turn drastically in the meantime.
The best deals on CAN are in the North Leinster area. Some merchants bought stocks a number of weeks ago and are in a position to offer 'sweetheart' deals to preferred customers, according to Fintan Conway of the IFA. Tight EU CAN stocks and stronger demand are supporting higher prices in the short term. There is less upward pressure particularly on low N compounds. Volume and group deals are available at the better prices.