Fertiliser compounders are optimistic about stable prices through to spring 2015 following the recent round of increases which has added €15-30/t.
Most of the high volume fertiliser compounds are costing €25-€40/t more than November 2013 and the year-on-year price for urea has increased by €60/t.
However, Liam Woulfe, managing director of Grassland Agro, one of the largest fertiliser compounders in the country, said prices should remain unchanged for the start of next year.
"I would be fairly optimistic of current prices remaining stable through to February-March 2015. What we are seeing this year is a front loading of the increases in the industry and that has been due to a number of factors, including the effect of the tension between Russia and the US," Mr Woulfe explained.
He said that CAN, which is costing around €335/t at farm level, is up €40/t. Potash and phosphate prices have increased by €25-€50/t and urea is €60/t dearer than in 2013.
"There has been a partial ban on the use of ammonia nitrate in Brazil, which has a market for 25m tonnes and this has put more pressure on CAN. So the increase in the cost of CAN is being demand driven," said Mr Woulfe.
"The trading difficulties which have developed between the US and Russia is now having an impact on the fertiliser trade within the EU. The recent increases have been driven by demand/supply factors in the industry in the EU," he added.