Another round of fertiliser price reductions is underway.
Ballance Agri-Nutrients has lowered its prices on a range of products for the third time this year, reflecting a continuing slide in international commodity prices for some fertilisers.
From next week, it will sell DAP, a combined nitrogen-phosphate fertiliser for $167 per tonne less, a reduction of 17%.
Ballance is taking $149 per tonne, 19%, off the price of sulphate of ammonia and cutting n-rich urea prices by 6% or $43.
The company estimates the price cuts will save farmers about $40 million per year. However, the reductions come at a cost to its bottom line as it writes down the value of stocks on hand.
