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Irish fertiliser prices are rising, with some local stores already charging more for several fertiliser types. The increase is attributed mainly to a global urea shortage that followed India's tender for 1.5 million tonnes in late 2020.
Higher gas prices, a similar US supply squeeze, and reported DAP shortages are also adding pressure.
Tight urea and DAP supply lifts nitrogen and phosphate input costs for feed-grain producers, which can feed through to grain and feed prices over the coming season. Industry sources expect prices to stay elevated but not far above historical norms.
agriland.ieSylvester PhelanFeb 2, 2021After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Attributes the urea shortage to India's 1.5 Mt tender and higher gas prices, an underlying demand and supply driver.
