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

Urea

Tenders in India and Pakistan have supported demand and prices have stabilised for spot tonnes. Supply issues in Egypt continue and there is currently very little or no tonnage being offered from this region.

The new facility in Algeria has started production but is releasing trial tonnages only. More product is expected to become available in Q4.

UK importers have moved prices upwards to reflect the current situation, although downward pressure on prices is still expected as we enter autumn.

Ammonium nitrate

About 30% of the UK market is now covered and a price increase is forecast when growers return to the market both here and in Europe.

The current market remains quiet with growers focusing on harvest. Prices for both GrowHow and imported product remain unchanged with the former at a £10/t premium.

NPK

Global supply problems continue. Phosphate markets remain firm and blenders have moved both TSP and DAP values upwards to reflect replacement values.

Potash prices have remained relatively unchanged and are still at sub-replacement levels. Most blenders are operating below cost as they fight for business. This cannot continue and an increase in demand will move prices higher.