Markets remain quiet according to the latest Gleadell fertiliser update, though Farming Unions spoke out earlier in the week over fertiliser giant Yara’s announcement of strong fourth quarter profits despite reduced sales, as farmers are reluctant to commit to buys ahead of spring applications.

Since November, NFU Scotland has pursued Yara, accusing the company of monopolistic practices; the union has asked the European commission to look into the fertilizer market to ensure farmers are not getting a raw deal.

The week markets continued to be quiet overall.

Urea

The Granular Urea market has been stable to slightly firmer this week on a global level. In the UK, the market is incredibly quiet and buying activity has been slow mainly - due to the snow and cold weather fronts.

Ammonium Nitrate

Ammonium Nitrate in the UK remains weak as importers fight to place tonnage on farms as new cargoes continue to arrive. GrowHow have reduced AN prices further to compete but, as the big freeze continues to grip most of Europe, gas prices have also moved to a six-year high. Gas demand across Europe has surged, and imports from Norway have fallen at the same time that Gazprom announce they have cut exports by 30% to some countries. Supplying heat rather than producing fertiliser will take precedence and this may, at some stage, be reflected in the availability of imported AN as Lithuania and other eastern suppliers satisfy what home demand they have first rather than exporting product.

Phosphates

The Phosphate market has been quiet globally and, in Europe, support to prices will be dictated by the weather. Buying has been dampened by plummeting sub-zero temperatures and applications expected in Germany and the UK in mid-February could now be delayed by up to three weeks. Phosphate prices look attractive as producers look to clear stocks. 

Potash

In Europe, demand has picked up ahead of the spring season application. Traders are making small purchases on anticipations that prices could firm up in the next quarter. Production cuts by manufacturers in Canada and Russia have sent a strong signal to the market that there will be no price cuts in the near future

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