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Fertiliser prices continue to fall with mid-week quotes putting CAN at £730/t to £750/t, a drop of £70 to £100/t on mid-April.
Nitrogen prices have been in decline since late March as sales collapsed when CAN crossed the £900/t mark.
However, the amount of product moving remains extremely slow, despite nitrogen coming back in price. There are some indications that CAN will be back into the £600’s later in the season.
Outside of CAN, compound fertilisers such as 25-5-5 and 27-4-4 are currently priced around £820/t to £850/t, but again, merchants report few farmers are making purchases.
Normally, merchants experience high demand for fertiliser in May with farmers sourcing nitrogen for grazing and second cut silage.
Last year, CAN was trading between £250/t and £260/t with compounds costing £320/t to £340/t, while in 2020, CAN could be purchased at £180/t with compounds around £250/t.
Diesel
Meanwhile, after a marked price increase last week, the price of red diesel has eased again.
However, with some merchants yet to apply a price correction there is a differential of 10p/l on quotes this week.
For an order of 2,250 litres mid-week, price quotes range from 98p/l ex VAT rising to 108p/l.
In the latter half of last week, price quotes on the same order were 104p/l to 110p/l.
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