The margins of importers and merchants increased by 500% on some products last year.
ADVERTISEMENT
Fertiliser suppliers reaped windfall profits on the back of the unprecedented hike in farmgate prices last year, the Irish Farmers Journal can reveal.
Inflated supply-chain margins on sales of urea, CAN and 27:2.5:5, which account for 83% of total imports, delivered up to an additional €200m in margins to fertiliser importers and merchants.
Irish Farmers Journalanalysis of CSO trade data shows that the margin on urea surged to €263/t last year, up from €54/t for the 2020-21 season.
ADVERTISEMENT
This is almost a 500% increase.
Similarly, the margin on CAN sales grew four-fold, rising from €61/t to a massive €238/t.
Record margins were also secured on 27:2.5:5 imports, with margins increasing from €92/t in 2020-21 to €218/t last year.
Farmers paid record prices for fertiliser last year, with the cost of urea increasing from an average of €380/t in 2021 to over €1,000/t by 2022. The average cost of CAN rose from €273/t to €827/t during the same period.
The figures come as farmers await spring fertiliser prices.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Fertiliser suppliers reaped windfall profits on the back of the unprecedented hike in farmgate prices last year, the Irish Farmers Journal can reveal.
Inflated supply-chain margins on sales of urea, CAN and 27:2.5:5, which account for 83% of total imports, delivered up to an additional €200m in margins to fertiliser importers and merchants.
Irish Farmers Journalanalysis of CSO trade data shows that the margin on urea surged to €263/t last year, up from €54/t for the 2020-21 season.
This is almost a 500% increase.
Similarly, the margin on CAN sales grew four-fold, rising from €61/t to a massive €238/t.
Record margins were also secured on 27:2.5:5 imports, with margins increasing from €92/t in 2020-21 to €218/t last year.
Farmers paid record prices for fertiliser last year, with the cost of urea increasing from an average of €380/t in 2021 to over €1,000/t by 2022. The average cost of CAN rose from €273/t to €827/t during the same period.
The figures come as farmers await spring fertiliser prices.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS