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Fertiliser prices in Australia continue to fall, with urea down 36% in the first quarter of 2023 and DAP down 15%. Rabobank analyst Vitor Pistoia said the price surge from the Russia-Ukraine war has passed, and farmers delaying purchases are weighing on demand.
Weak Australian demand and falling prices reflect a market that is unwinding the war-driven spike, which keeps downward pressure on nitrogen and phosphate costs. Delayed buying could eventually tighten supply if demand returns quickly.
farmweekly.com.auJasmine PeartApr 10, 2023Not 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.
