Calum Findlay, Gleadell’s fertiliser manager, comments on the fertiliser markets

Urea

The urea market continues to firm globally but European prices do not currently reflect this. Prices continue to trade at $20/t below replacement levels (FOB Egypt).

Three of four major Egyptian urea producers are back online now that gas problems have been resolved. However, export licences are still in negotiation.

UK prices are edging up slowly but demand remains lacklustre. We would encourage growers to buy any remaining urea requirement soon, as prices are expected to rise sharply when strong demand returns.

Ammonium nitrate

Last minute October demand for UK AN has returned as GrowHow (CF) remains aggressive in the marketplace.

Good prices are still available with October terms remaining in place. However, November terms are expected from Monday.

Imported AN stocks are high and, with minimal demand, prices are struggling to firm.

NPK

CF NPK demand remains high due to aggressive pricing compared with blended product.

Potash stocks are high on the east coast but demand is minimal. Trade is at its lowest point this year – buying is recommended.

Phosphate levels remain stable and are still trading below replacement values in the UK.