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

Urea

The global urea market remains firm, with small spot trades this week making about $440/t, slightly up on previous business. The UK market remains below replacement values, so the spot market offers an excellent opportunity to buy very competitively priced nitrogen.

The forward market has begun to move, globally and in the UK. Quarter 3/4 supplies are offered at sensible levels; growers should seriously consider locking in a percentage of next season’s tonnage against 2015 grain values.

Ammonium nitrate

Ammonium nitrate values are stable, with only minimal demand from top-up tonnes. Prices remain unchanged for March/April deliveries for both imported and domestic products. Forward pricing for AN is not expected until May/June.

Phosphate and potash

Both P and K markets are firm in the UK due to low stock levels and a surge in late buying for spot delivery. Blenders are working overtime to cope with the increased demand but are struggling to deliver tonnes in time. Growers needing March delivery for NPK compound should bear in mind that GrowHow is offering delivery within one week.