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Rabobank analysts expect New Zealand farmgate fertiliser prices to fall in the coming weeks as the market is quiet with no major price drivers. Middle East urea spot prices dropped 14% in April, and Morocco DAP fell 4%.
China has also shortened export certificate validity to 30 days, though this has not yet lifted prices.
Falling spot references and a lack of upside drivers point to lower nutrient costs for farmers, which could ease input pressure on grain and feed production margins.
farmersweekly.co.nzAnnette ScottMay 15, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
