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

Granular urea

Global markets have firmed for April movement despite a quieter week in terms of new sales.

Gas problems have worsened in Egypt. Only one plant is running, at 60% capacity, so producers are offering no urea whilst these issues continue.

Towards the end of April India will enter the market with what will be the first major tender in 2016. Depending on tonnage, this is likely to direct the market in the coming weeks.

In the UK, prices have eased slightly for April movement. Forward markets remain a talking point – with Egypt’s problems worsening and uncertainties over currency, growers should consider securing some tonnage at current prices.

Ammonium nitrate

AN values have slipped further across Europe as competition increases in the spot market. CAN values have also been cut to re-align with AN prices.

In the UK, prices for both imported and domestic product remain unchanged. Ships have been arriving this week but importers remain under pressure to keep moving this stock.

NPK

There has been constant demand from both the arable and grassland sector and prices are unchanged.

Growers looking to purchase product “just in time” – often including part loads – are facing problems. Suppliers do all they can to meet deadlines but often cannot do so. Our advice is to plan requirements and consider getting stocks in the shed.