fertilizer

[Hopperbin]

Looks like international prices are dropping. AGU MOS POT are all at or past or well past their yearly low. What are USA corn acres for new crop?
Although we are somewhat locked to our local fertilizer suppliers there are forces at work. Will be interesting this year where things wash out. If there was a time to hold off or shake an unsigned check in front of the dealer now is the time to do it.

[lnjr]

Anyone got a quote lately?

[mbratrud]

Soil testing paying off this year, all over the map but the dryer weather later in the year really got the cycling going. 40 - 50 lbs available N on some fields. After last years wet year the most we had was 10. So that definatly helps. Seems like prices going sideways now for awhile. $630 - 640 46-0-0 was the latest number I heard.

[Hopperbin]

Come on guys, don't commit untill the very end, offer to pay after new year and then show up on feb break to pay.

[SASKFARMER3]

We talked to Vittera Yesterday and two Independents plus Richardson.
Told all were not budging price is to high related to my pay check. Ill seed and top dress later or grow a below average crop.
Prices for my product are down 30percent so Fert is way to high.
They all came back with Gas and Diesel are way to high related to Oil.
I said time will tell.

[dave4441]

Long ways to spring but i think very little fert is prebooked and with diesal restrictions in place this could get very interesting.

[fjlip]

If we sit and wait, spring rush for fertilizers could be interesting.
Distillate is short for winter blends, summer diesel is not short, what I heard.

[Hopperbin]

The Indian Rupee has fallen this year so the fertilizer companies are giving them a break.

UPDATE 1-India fertiliser cos renegotiating raw material import deals
24 Nov 2011 - Reuters
UPDATE 1-India fertiliser cos renegotiating raw material import deals(Adds quotes, details)

By Rajendra Jadhav and Kaustubh Kulkarni

MUMBAI, Nov 24 (Reuters) - Indian fertiliser makers are renegotiating import deals for raw materials such as potash and phosphate following a sharp fall in the rupee that has raised production costs, three industry officials said on Thursday.

With the Indian currency losing more than 14 percent this year and no additional government subsidy support, fertiliser makers have come under pressure. Raising prices of the politically sensitive commodity used by farmers has also been resisted.

A few suppliers have agreed to lower prices and others are likely to follow suit in the next two weeks, the industry officials said.

Indian firms usually sign imports deals for raw material in one go. They signed potash imports deals at $470 per tonne for 2011 and $530 per tonne for 2012 shipments.

"International suppliers have agreed to reduce prices of diammonium phosphate (DAP) by $35 per tonne and NPK by $25 per tonne," U.S. Awasthi, managing director, Indian Farmers Fertiliser Co-operative Ltd (IFFCO), the country's biggest fertilizer company, told Reuters.

For shipments loading from December 1 to March 31 a few exporters will charge $642 per tonne for DAP instead of $677 agreed earlier, he said.

Two other company officials, who declined to be named, said they were also renegotiating import deals with suppliers for DAP and potash.

The Indian rupee, the worst performing Asian currency, is expected to remain under pressure in the near term due to a rising import bill, slowing exports and dwindling inflows.

"We can't afford to pass on price rise to farmers. So we have asked our suppliers to cut prices. This is an unprecedented situation and this situation calls for close cooperation between buyers and suppliers," Awasthi said.

India imports nearly one third of its total fertilizer requirement, with potash and phosphate constituting the bulk of it.

"Response from potash suppliers was also positive. So far they haven't agreed for a price cut. But we are hopeful that they will accept at least a $40 per tonne cut," said a managing director of a fertilizer maker, who declined to be named.

One other fertiliser maker and Awasthi said the price cut was also in favour of raw material suppliers as higher prices will destroy demand in one of the world's biggest fertiliser importers.

India fulfills its entire requirement of potash through imports while it buys 90 percent of its phosphate from abroad.

Potash Corp, Mosaic Co, Agrium Inc , Uralkali, Arab Potash Co, ICL Israel Chemicals and K S are among the major potash suppliers to India.

Moroccan phosphate producer Office Cherifien des Phosphates (OCP) and PhosChem are key DAP supplier to India. (Editing by Krittivas Mukherjee)