Source: COLIN BETTLES – Thursday, 30 Oct 08
Fertiliser prices have dropped significantly over the past three months due to declining demand and the effect of the global credit crunch.
However, some of those gains have been offset by the Australian dollars rapid fall against the US dollar.
WA’s Summit Fertilizers manager Murray Brown said the cost of urea had fallen more than 62pc over the past three months, while phosphate and potash had become more expensive for Australian farmers.
He said the drop in urea was being cancelled out by the other products climbing at a similar rate and growers generally didnt use N without P and K.
Australian Fertiliser Services Association SA president, Craig Swan said in July that “farmers should keep an eye out for early incentives when the supply issues are sorted out”.
“With worldwide high demand, fertiliser prices may remain steady at best”. “I can’t see it coming off at all”, said Mr Swan.