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

Granular urea

Global markets remain relatively inactive ahead of the Indian tender expected on 11 September. Egyptian production problems continue and this will minimise the effect that new plants coming on line will have on the market.

In the UK demand is not forecast to return until late October / November once autumn drillings are complete.

Ammonium nitrate

GrowHow has held prices at current levels, despite price rises announced by Yara across Europe at the end of last week. The current price levels remain attractive and may present an opportunity to buy in advance of price increases, which will happen once demand returns.

Imported product remains tight across Europe and values have moved upwards, although in the UK, with stocks in store, prices remain flat.

PK

Markets remain relatively unchanged for both phosphate and potash. Despite replacement price increases blenders continue to work at below cost of production in order to compete for tonnes in a quiet market. With high yields being reported, increased offtake of both P and K will be high again this year, so taking a ‘PK holiday’ to cut input costs is not an option in many cases.