Fertiliser prices have risen by around €20/t compared to pre-Christmas quotes and further increases are expected, according to industry sources.

Prices of €450/t for urea and €360/t for CAN were freely available before Christmas, however, uncertainty in the Middle East and the affect of Trump’s presidency on exchange rates are expected to drive up prices again.

“Iran is one of the biggest exporters of urea and they have cut back production to divert their gas into heating.

“Turkey, a major customer of Iranian fertiliser, as a result has gone to Egypt to fulfill its supply, driving up the price by $70/t.

“We get most of our urea from Egypt and Algeria. The price of CAN is also being driven up by the cost of gas in Europe – it’s up 40% since September.

“The ‘Trump effect’ on the exchange rate has also already hit the price of urea,” one fertiliser importer said.

Prices

Prices of €470/t for urea have been quoted by merchants with deals of €460/t available where payment can be made on delivery. Protected urea is currently costing €50/t more than ordinary urea.

Quotes for CAN are being reported at €370/t to €380/t with sulphur CAN closer to the €400/t mark.

Meanwhile in Northern Ireland, reported prices for CAN are between£310 to £320/t at merchants taking delivery of new stocks. CAN plus sulphur is trading north of £330/t.

Quotes on urea have edged above the £400/t barrier, although again, where payment can be made on delivery, there are deals being struck at £395/t.