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

Urea

As the year draws to a close the market has become quieter with minimal trades into the US and Europe. Sales that have taken place put Egyptian product at $345/t FOB, slightly down on previous weeks. There is still a strong possibility that Q1 2015 will provide some uplift for global urea prices, as Egyptian product for export remains tight and key northern hemisphere markets will need spring tonnage. Gleadell’s import programme is in full flow and the company can offer granular and prilled urea for Jan/Feb delivery.

Ammonium nitrate

In the UK pockets of imported ammonium nitrate continuing to trade at below replacement value as importers look to empty stores in anticipation of new cargoes.  Imported product is trading about £10/t below UK product, but, with bags on the ground, GrowHow will be in a strong position as we enter January, when prices will be squeezed and deliveries become ever more difficult at short notice.

NPK

UK blenders this week raised prices for TSP and MOP by £5/t. This, plus rising nitrogen prices, is likely to create a steady increase in NPK values in the new year. There is a huge UK spring market to service and Gleadell advises taking product as soon as store space becomes available. Given the logistical problems expected in spring, blenders have warned that only standard blends will be available from January 2015 to maximise efficiency. Growers requiring specific blends should order them before Christmas.