Ballance Agri-nutrients has lowered the price of its range of nitrogen products as fertiliser prices ease off their historic highs over the past 18 months.
The cost of Urea, SustaiN and SuperN have all dropped by $150 a tonne to $980, $1029 and $1010 respectively while SOA and PhaSedN have come back by $100/T to $797 and $895.
Ballance shareholders were told of the new prices on April 21. It is the second time this year prices have eased, with Ballance and rival fertiliser cooperative Ravensdown announcing reductions in March. Ravensdown’s prices are unchanged.
According to Westpac, fertiliser costs have lifted by 33% over the past year, however it expects those costs to ease. In an online Economic Bulletin, it pointed out that the price growth has eased from the 70% increase in the year to June.
“Fuel (petrol) prices have fallen by around 20% since the middle of 2022. Local fertiliser prices have headed in the same direction, and with world urea prices, for example, down by around 66% since April 2022, further local price declines are likely,” it said.