Strong grass growth and weak milk prices spark drop in fertiliser prices
Fertiliser prices have fallen by €20/t over the last month in some parts of the country, as strong grass growth and weak milk prices hit sales.
The latest IFA price survey shows that best quotes for granulated CAN are around the €210/t mark. But there is a significant variation in costs, with prices generally varying between €220/t and €255/t.
However, the considerable fall in German bulk wholesale CAN prices to €145/t has not been reflected in recent farm gate prices.
Prices have also eased for 27-2.5-5 and 24-2.5-10. The best deals for the former are being done in North Leinster where it has been bought by groups for €310/t. A price range of €325/t to €360/t is being quoted.
A price of €315/t is the best value reported for 24-2.5-10, with most supplies moving in the €330/t to €370/t price range. The IFA report that Northern suppliers have upped the prices to prevent leakage across the border as sterling continues to devalue against the euro.
While farmers accept that the latest price reduction will only offer minimal savings at this stage of the year, they could be significant if the lower prices hold into 2017.
Meanwhile, sources in Brussels report that Fertilisers Europe (FE) has beefed up its lobbying campaign with the EU Commission for the retention of anti-dumping and customs duties on non-EU fertiliser entering the Union.
The move follows the ongoing IFA campaign for the abolition of these duties.