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Ballance Agri Nutrients in New Zealand cut urea by $250/tonne to $1,239 and DAP by $155/tonne to $1,370, and reduced SOA by $30/tonne to $712. The company said it had misread international signals when it raised prices in late January.
It noted that nutrient prices had been volatile over the past year because of strong Indian and Chinese demand and tight supply.
The reduction reflects softer international nitrogen and phosphate pricing as the market adjusts after a sharp run-up. Lower New Zealand delivered prices could ease feed and forage input costs for local farmers.
farmersweekly.co.nzHugh StringlemanFeb 9, 2022Not 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.
