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

Urea

Global markets have remained under pressure. However, the first Indian tender of the year has been announced for the second week in April and, while the total volume has yet to be declared, significant demand is expected. This could provide support for the market and some stability.

In the UK forecast warmer weather will help growers catch up on fertiliser applications. Demand is starting to surface for top-up tonnes.

Ammonium nitrate

GrowHow has held prices and, as we enter April, interest continues to surface for “Bluebag” products. Imports have slowed and tonnages in the UK are starting to diminish. Importers will want to see all stocks sold and moved to farm ahead of any new season price reduction, although that looks highly unlikely in the short term.

NPK/PK

Demand remains slow for phosphate worldwide, but prices have held firm. Potash markets look stable after worries over the renewal of price contracts into China evaporated following new deals agreed over the past week. New levels were lower than targeted, but it is the first time since 2011 that there has been an increase in price.

In the UK the market looks to have settled at current levels, which are still below raw material replacement values. The next move will depend on demand for grassland after-cut grades.