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

Urea

The spot market remains quiet, both globally and in the UK, where prices continue to show some signs of weakness. Stock positions in the UK are depleting, but what remains offers an excellent opportunity to buy a very competitively priced source of nitrogen.

Forward prices continue the feeling of nervousness reported last week. Traders remain cautious about how much they want to take on board having “shorted” the market across Europe so far.

Ammonium nitrate

Ammonium nitrate prices have peaked for the season. Demand for top-up tonnes is keeping prices stable. As for some weeks, GrowHow product remains a very competitive buy in the April / May window.

We are unlikely to see any new season terms until late May/June at the earliest.

Phosphate and potash

The phosphate market seems slightly weaker in the UK as demand shelves off.  The potash market remains firm due to a surge in late buying for spot delivery. Blenders had an extremely busy March, working overtime to cope with the increased demand. Most suppliers seem to have been delivered but some tonnage may have been rolled to April.