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

Ammonium nitrate

Yara has increased prices by €6/t across Europe and the UK looks set to follow with a planned increase already in place.

This suggests taking tonnes in the short term will be a cheaper option than buying later. Deferred payment is also well worth considering.

Imported AN demand remains high and July tonnes are selling quickly. The Achema plant in Lithuania has a shutdown planned for August. Prices are then forecast to firm further.

Urea

Strong support for the global market remains, with high demand in the US for first half of July and the announcement of a new Indian tender for shipment for the second half of that month.

Prices are expected to ease in Q3/Q4 as new urea plants come online. Meanwhile the focus will remain on ammonium nitrate.