Only buy in CAN as it’s needed

FARMERS buying nitrogen through the summer grazing and silage season have been advised this week to purchase only what they need in the short-term, with prices expected to fall further over the coming months.

Galway IFA Environment Chairman, Bertie Roche, told the Farming Tribune that while CAN [27%N] had dropped in price by about €20 over the past couple of weeks, further price drops were now being predicted.

“A lot of pressure has been put on by the IFA at local, national and EU levels over the past year to secure price reductions from the artificially high levels they’ve been at since the start of the year.

“While prices had dropped towards the end of last year, they immediately began to rise again at the start of the year. We also secured a commitment from Commissioner Phil Hogan to tackle the fertiliser pricing issue,” said Bertie Roche.

He said that CAN last week was now selling at €240 a tonne as compared to €260 less than a month ago, but the price of urea (46%N), at €330, had still continued to remain stubbornly high.

“All the pointers we’re getting back both at national and EU levels suggest that there will be further price drops over the coming months.

“Taking that into account, what Galway IFA are advising, is for farmers only to purchase the fertiliser they need to meet their short-term needs and not to be buying in bigger quantities,” said Bertie Roche.

For more, read this week’s Connacht Tribune.