Calum Findlay, Gleadell’s Fertiliser Manager, comments on the fertiliser markets

In Europe, the larger manufacturers are soon expected to provide new CAN and AN prices for the summer fill period, although values have only been indicated to date and we are unlikely to see anything concrete before early June.

Granular urea values remain weak and the outlook looks similar but we are in volatile times and markets can change direction very quickly. Imported AN values have continued to slide but, having already seen a price reduction of over £30/t, the feeling now is a floor is being reached as the cost of production starts to look marginal in some areas.

We expect an aggressive start on AN values for the new season and historically low numbers may be on offer to encourage a good early uptake, which is just what manufacturers require once they have plants up and working 24/7. Tonnes and movement are required and of course starting at a lower price will give producers plenty of headroom to move values up once the market is running.