War hits fertiliser prices, local supplies OK
Added 3 months ago
With Russia, a major exporter of fertilizer, stopping its exports, global prices and supplies are suffering.
But here in our patch, although prices will again rise, both Ballance and Ravensdown are confident that they are adequately stocked to meet demand for coming autumn and spring needs.
Fortunately, Balance doesn’t source from either country (or Ukraine). And Ravensdown has not sourced from these countries since last year.
Russian exports account for 46% of ammonium nitrate, 23% of ammonia, 15% of urea and 14% of MAP. And with ally Belarus, 40% of potash. According to a BBC report, these ingredients support about 25% of food production in Europe. Count NZ fortunate for now.
NZ farm analysts expect the knock-on effect of suppressed supply globally will affect our local fertiliser prices. In the last week alone, global urea prices have risen 20%.
All the more reason for HB farmers to move away from synthetic fertilisers.
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