Global volatility and unpredictable market conditions are being blamed by Ballance Agri-Nutrients for price rises on some of its products.
In an email to farmers, the co-operative’s general manager for customers, Jason Minkhorst, cited upward global price pressure on key fertiliser products.
“Despite a stable outlook back in May, when we last adjusted prices downwards, global DAP pricing has surged upward by over US$100/T. This unexpected turn has forced us to replenish our local inventory at these higher costs, leading to an increase in our local DAP price.”
Urea and sulphur products are also affected by the impact of commodity prices on inventory costs, but less so than DAP, which jumped $120 a tonne to $1259.
Nrich Urea, SustaiN, Nrich SOA have all lifted $24 a tonne to $819, $868 and $499 respectively and super has increased by $20 to $444 a tonne.
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