New Gleadell fertiliser update - Friday 9th November 2007

GrowHow UK and Yara fertilisers are sold out of product for the rest of this year, prices for Spring 2008 when released will reflect more price rises.

AN

With the Severnside AN plant closed by the end of January 2008 this will add more pressure onto an already mounting nitrates supply problem.

Lithuanian Imported AN is only arriving in small amounts and no other imported product is available from any of the Baltic countries or the Black Sea region.

UREA & POTASH

Urea prices continue to firm and with the US currently showing a 1 MT deficit do not expect any respite.

The UK blenders have again withdrawn from the market as yet another Potash rise is imminent. In this market, which has never been experienced before, expect both logistical and supply problems in the Spring.