Urea prices drop due to demand fall for fertiliser
Urea prices continue to fall on the international wholesale market, adding to speculation that CAN could follow it down in coming weeks.
The fall in urea prices has been driven by reduced demand and reluctance from farmers to buy at high prices.
A prolonged dry spell and poor growth has dampened demand for fertiliser but farmers were already reluctant to buy at high prices. It would appear that many were quick enough to secure nitrogen requirements before the price spike began.
The latest IFA price survey shows urea selling for €380-425/t delivered, while CAN is €318-350/t in bags and €300-304/t in bulk.