Gleadell Fertiliser Market Report - 2/09/2011

UREA

Internationally, Granular Urea has movedforward with Indian tenders showing settlements based on an increase of $33.00from last week, with further tenders in the pipeline from US, Pakistan andEthiopia expected to further give production facilities a good run into the 4th quarter. Prilled Urea has also firmed on the back of risingGranular prices.

AMMONIUM NITRATE

There are a few offers of good quality A/Nwith Lithuania being the only exception. Indications going forward are of a’10-’15.00 increase on today’s values for Oct/Nov. There are few offerscurrently coming from Poland or Bulgaria in the short term.

PHOSPHATE/POTASH

Prices on DAP/TSP continue to moveup slowly, with blenders having covered limited tonnes for the autumn campaign,prior to recent increases driven by large tenders from Pakistanparticularly.

Potash prices continue stable.

SULPHUR

Good quality Amsul continues to be in short supply, along withGranular Nitrogen Sulphur products, which have mirrored the difficultiesin sourcing good quality Sulphur products from the very start of the season.