Both Major Fertilizer Traders Ballance And Ravensdown Have Dropped Their Prices

Both major fertilizer traders Ballance and Ravensdown have dropped their prices. Ballance reduced its urea price by $100/tonne to $880/tonne, Sustain down by $100 to $929/tonne. SuperNZ also drops by $100/t to $910/t. Ravensdown also dropped its urea price by $100 to $889/t, N-Protect, from $1,038 to $938 and Granular Potassium Chloride – from $1,539 to $1,230/t. Ballance chief executive Mark Wynne says globally fertiliser supply has kept up with expected demand, but farmers are now using less fertiliser due to high prices, so the market is doing a correction. He says Ballance’s fertiliser sales over the past year were robust in Spring with prices still climbing but demand over autumn reduced significantly. Ravensdown chief executive Garry Diack estimates fertiliser usage had dropped on average 30% across the globe and Ravensdown’s sales had dropped “plus or minus 20%”. His concern is Brazil and China, who are out of the market at the moment but could return soon and prices could rise again.