UREA
The New Year has seen the Ureamarket in volatile mode once again. Since our last report before Christmas, the ever fertiliser market has seen corrections with product trading down as low as it was back in July/August. However, as we expected, a rebound has occurred for a number of reasons. Demand has increased as growers now seek product for their first dressings. Farmers with little stock must now buy and, along with the shortage of product globally, this has helped to once again push prices higher. Many producers have little stock to distribute globally and are sold out for January/February. The bullish mood for Granular Urea is set to continue for the short term and, as demand increases, may move on again.
Prilled Urea is asimilar story. Demand has increased in the UK over the last few weeks withsupply being tight. There is currently very little product available from producers and buyers globally are experiencing problems when trying to secure tonnage.
AMMONIUM NITRATE
Ammonium nitrate isstable to firm in the UK. There is little buying activity as buyers wait for the UK price to be released and we expect this to be unchanged from the current December price seen on farm.
PHOSPHATES
The phosphate market is picking up as predicted. TSP/DAP prices are firm but with little stock in the UK atpresent.
POTASH
Potash is unchanged as we enter the new year. Demand is up slightly but prices remain stable. As demand increases it is expected that prices will follow also as growers seek requirements for this spring.
SULPHUR
Globally, the sulphur market is still quiet. However, in the UK, we have seen demand picking up yet again for Urea based sulphur grades.