Fertiliser prices have seen a significant drop in recent weeks with straight nitrogen prices down by between £15/t and £20/t to £180/t.

Prices have been on a downward trend since mid-April when CAN peaked at £225/t.

Falling energy prices are the main driver of lower fertiliser prices. Crude oil and particularly gas are essential in fertiliser production and both commodities are at their lowest value this year on international markets.

In addition, new-season product has been arriving on the market since 1 June, and sales of fertiliser have slowed in recent weeks on the back of strong grass growth which has affected buying patterns.

Silage harvesting is also ahead of other years, with a number of farms operating on drier land already having second cuts coming ready for harvest.

Compound fertilisers have also seen prices fall with 20-10-10 down to between £257/t and £260/t, while 25-5-5 is hovering around £250/t and 24-6-12 prices stand at £266/t to £270/t.

Read more

Fertiliser use up 32% in the Republic

Concentrate feed prices on the rise in NI