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South African fertiliser prices have risen sharply on a weaker rand, with DAP up 22.6% year-on-year in April and local urea up 14.9%. The NAMC cost monitoring report for May shows muriate of potash down 1.5% internationally but domestic KCl up 7.4%.
Fertiliser now represents about 35% of a grain farmer's variable costs.
A weaker rand raises the landed cost of imported phosphate and nitrogen inputs, squeezing South African grain margins ahead of planting and supporting higher local feed grain costs.
farmersweekly.co.zaSiyanda SishubaJun 19, 2020After 28 past bullish macro events, DAP moved a median -0.2% over 5 sessions (36% higher; middle half -0.9% to +1.3%), and -0.8% over 20.
After 92 past bullish macro events, Urea moved a median +0.0% over 5 sessions (50% higher; middle half -2.0% to +3.6%), and +4.8% over 20.
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.
