Fertiliser has been hit with a £20/t to £30/t price hike this week as manufacturers react swiftly to a surge in European gas prices.

Quotes for CAN are now in the region of £670/t although others are quoting £680/t to £685/t, with a strong expectation of further price rises to come.

Compound fertilisers used for grass such as 27-4-4 or 25-5-5 are now £100/t above CAN and are expected to exceed the £800/t mark during August.

The price of gas, which is an important component in fertiliser production, has soared by more than 30% this week as Russia threatens to further reduce supply to the EU.

At the same time EU member states have agreed to reduce gas demand by 15% this winter amid concerns about future Russian supply.

Fertiliser markets had been relatively quiet since early summer.

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