Price drop

Price-drop

With just six weeks until spring Ballance has dropped fertiliser prices

August 26, 2013

Price Drop

With just six weeks until spring Ballance has reduced the price on the majority of fertiliser nutrients.

This current round of price reductions follows the lead Ballance made to drop domestic prices in June, with Chief Executive Larry Bilodeau saying lower prices will help farmers plan ahead with confidence.

Among the reductions is a $75 drop in urea prices to $640 a tonne, coming on top of a $30 reduction last month. Diammonium phosphate (DAP) is dropping by $70 a tonne to $850 and superphosphate is reducing $13 a tonne to $335.

Mr Bilodeau said that with global markets for fertiliser stabilising, Ballance has been able to pass on purchasing benefits to customers prior to the co-operative’s next quarterly review on 1 September.

“We always keep prices under review to ensure they reflect the international market. We aim to supply the best quality nutrients at the lowest possible price. As a co-op, we are also able to pass on additional benefits to shareholders through our rebate based on fertiliser purchases during the year.”

Mr Bilodeau said the co-operative expects to announce an excellent year end result for shareholders next week, and being able to lower nutrient prices in time for start of spring season was an added bonus.

“Although volatility is here to stay, all the signs point to international fertiliser prices holding at lower levels in the medium term. There is new production capacity coming on stream, ruling out likely supply shortfalls,’ he said.

“We are seeing a return of confidence in the farming sector with good opportunities in Asia, a good dairy payout forecast and positive demand. Farmers will want to make the most of the opportunities following the drought’s impact on earnings.

“It’s the time of year when farmers are planning their fertiliser applications to lift production. We’ve got our team out in the field ready to help plan applications to boost feed supply and to get crops off to a strong spring start.”

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