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

Urea

Globally the spot market remains firm, buoyed by immediate shipments to the US to replenish stocks.

After the recent tender where prices ranged upwards from $303/t fob China, India booked 850,000t. Chinese product is trading at roughly a $20/t discount compared to other markets.

Expectation of a potential Q3/Q4 price reduction remains. However, new urea plants have been slower coming on stream than expected.

In the UK prices remain below levels paid by many growers last year. Now might be a good time to book some tonnage.

Ammonium nitrate

GrowHow has moved to July terms indicating a £3/t price increase over June levels, and prices are expected to continue firming.

Imported AN continues to trade at about £10/t discount to UK product but high demand is likely to push prices upwards.