Fertiliser prices hold, but deals on offer
The fertiliser market is holding firm, with prices for CAN ranging from £640 to £660/t this week.
However, farmers looking to purchase are advised to price around as there are deals to be had in the market.
While some merchants are initially quoting £670/t, discounts are being offered to secure orders and shift existing stocks.
Compound NPK products such as 27-4-4 and 25-5-5 are trading around £80 to £100/t above the price of CAN.
Merchants have reported an upturn in sales this month with fertiliser falling by more than £100/t from mid-May. However, compared to previous years, sales remain extremely slow, with CAN still up £400/t on last June.
Oil distributors keep red diesel high
Price quotes for red diesel are running between 118p and 121p/litre excluding VAT this week, which is almost double that from last June when diesel was at 57p to 60p/l.
An order of 2,250l is likely to cost between £2,670 and £2,720 excluding VAT midweek.
However, farmers are advised to price around and push for a discount as there are deals to be had, especially for customers consuming larger volumes of diesel each week.
Crude oil price has fallen in value, yet the major oil distributors have been slow to pass any cost saving back to customers.
Oil stood at US $114/barrel on Tuesday, down from a peak of $123/barrel on 8 June. This puts crude oil price on a par with late May.
Back then, red diesel could be purchased below 100p/l ex VAT.
Edge taken off bale wrap prices
Price quotes for bale wrap have eased slightly when compared to the spring.
Wrap is currently trading between £75 and £80 per roll with a further £3 to £5 saving for purchasing in bulk.
Back in early May quotes were more typically £80 to £82 per roll.