CAN prices have dropped below £350/t, putting straight nitrogen fertilisers at their lowest value since August 2021.
Quotes issued midweek by merchants taking delivery of new fertiliser stocks, put CAN on a starting price around £340/ to £345/t, down £25/t in just over one week.
However, farmers purchasing larger quantities, and in a position to make full payment on delivery, have secured deals as low as £330/t.
Some merchants have hinted at further price corrections for June, with prices in Britain down as low as £300/t for 34% ammonium nitrate.
Farmers should price around as some merchants with older stocks are still quoting in the region of £380/t.
Compounds have also seen significant reductions, with £20/t coming off most grassland products including 25-5-5, which can now be purchased as low as £415 to £425/t. Other zero-phosphorus products have dipped below £400/t.