However, larger-than-normal levels of stock remain due to the lower-than-expected usage of fertiliser. There are still expectations that wholesale prices are set to fall over the coming weeks. This is making retailers anxious to move stock.

Wholesale ammonium nitrate prices have fallen by €53/t since mid-March, leading experienced buyers to believe that CAN prices have considerable scope to fall further.

Given the low margins, there is competition among the larger co-ops to move stocks ahead of falls. CAN is being bought for as low at €300/t in the northeast, but up to €360 is still being quoted.

Bulk CAN was bought for €285 to €290 in the northeast this week; 18:6:12 is making from €410 to €460/t; 27:2.5:5 is making from €405 to €450/t and 24:2.5:10 from €415 to €460/t.