New Gleadell fertiliser market update - 7th December 2007

Fertiliser is currently witnessing a price explosion, both nationally and Internationally.

AN

Yara and Growhow UK are currently withdrawn from the market but aspirations for the Spring market are now approaching £ 270/tne for Ammonium Nitrate.

Everything is linked to the massive inflation on N alternatives available on the International market.

Imported AN is still not arriving in any volumes, but January prices are rumoured to be close to £ 230/tne for January delivery, that is if the product arrives?

UREA

Granular Urea is now the most cost effective replacement, with Egyptian granular quality being the best buy. Gleadell Agriculture has Egyptian Granular Urea in the UK now to offer for prompt delivery.

The strength of the Euro is helping traders attract tonnage to Europe at the expense of the US, but prices are still continuing to rise as manufacturers seize opportunities and continue to track the rise in AN levels.

National blenders have now withdrawn as raw material prices continue to escalate upwards almost out of

control.