The deals being done for fertiliser in yards

Protected urea is moving at €690-720/t and CAN at €490-520/t in the south and southeast as merchants look to clear stocks currently in yards.

The keenest prices are being quoted in areas of the country which were hardest hit by the drought and where fertiliser usage was most affected.

Farmers in the south and southeast purchased protected urea for as low as €690/t but €700/t is more widely available.

CAN is generally moving at €490-500/t. However, deals have been done this week for CAN at €480/t and CAN with sulphur at €505-510/t.

Prices for compounds in the southeast generally range from €630/t to €680/t, with a premium charged for higher phosphate content. “The higher the P, the higher the price,” as one farmer explained.

The best of the prices in the south and southeast are being offered for payment now and delivery by the end of November.

A big variation in prices was quoted in the west. One farmer who purchased product over a fortnight ago said quotes for 38% protected urea with sulphur ranged from €670/t to €735/t.

Shop around

While he accepted that the lower quotes may no longer be available, he said the variation showed it was worth shopping around. Although some buyer groups have been active in the fertiliser market over the last few weeks, individual farmers have not been as visible, merchants report.

“Bigger operators have been buying but your ordinary farmer is quieter this year. Money is tight with most lads. You see that in the tidying up of accounts,” a southern merchant said. There is a fear that spring prices are likely to move up again unless a solution is found to the ongoing conflict in the Middle East.

“Working on what the importers are talking today, you’d expect price increases of the order of €30-40/t,” one merchant said.