In response to last week’s article in The Dealer, Target Fertilisers has stated that some of the figures quoted were somewhat wide of the mark.

Target was not prepared to reveal any details of its commercial agreements. However, it is worth noting that no effective forward-market exists in the sourcing of fertilizer internationally, which adds hugely to the volatility and risk involved at all levels of the market.

The Dealer accepts that the high-volume, low-margin fertilizer industry partnering with co-ops and merchants fulfils a vital role in the facilitation of working capital to farmers, regardless of the wider economic environment.