Origin Enterprises CEO Sean Coyle said the surge in gas prices since the conflict in the Middle East began at the weekend coupled with the large amount of world fertiliser produced in that region “will drive up fertiliser prices quite significantly over the course of the next month or two”.

He said that there is not likely to be a shortage of fertiliser in the next six to eight weeks due to stocks the company holds, as well as what is already in merchant and co-op yards.

However, a prolonged conflict will “force prices up generally”.

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Coyle was speaking to investors after the company announced results for the first half of its financial year which ran to the end of January 2026.

Those results showed revenue and operating profit in line with expectations at €852.6m and €15.1m respectively. The company announced an interim dividend of 3.15 cent per share.

Origin noted that weaker grain, oilseed and dairy prices “continue to dampen farmer sentiment, influencing timing and commitment to spend”.

Strong demand

However, the company said that there was strong demand for fertiliser in Ireland and the UK, as growers advanced purchases in anticipation of price movements.

Fertiliser prices were already rising ahead of the outbreak of hostilities in the Middle East, driven by a tightening of global nitrogen supplies, as well as the phased introduction of the EU carbon border adjustment mechanism (CBAM).

The company had a once-off exceptional cost of €3.7m in the period consisting of costs in respect of the facilitation of payments to suppliers which had been previously suspended in accordance with international sanctions following the Russian invasion of Ukraine.

These costs meant the company reported a net loss after of tax of €3.26m. Origin noted that its earnings are generally weighted towards the second half of its financial year.

The company confirmed that John Hennessy, formerly chair of CPL Resources and hotel group Dalata, has assumed the role of non-executive chair of Origin following the release of the interim results, taking over from Gary Britton who held the position for the last three years.