Fertiliser prices have started to creep up again, but are not expected to reach the dizzying heights experienced during the commodity boom.
Ballance Agri-nutrients says prices have been held at near or below -cost for some manufacturers during the past year, but the prices are under pressure as the inventories empty.
While the company managed to reduce prices for the main superphosphate products in December, chief executive Larry Bilodeau says there are indications that that could be short-lived.
He says the cost of DAP has increased by 45% in the past two months and urea has risen significantly.
Although he can't predict how high the prices will reach, Mr Bilodeau says he's confident they won't go as high as they did in 2008.
He says they're likely to settle or fall as stocks increase and the Northern Hemisphere spring season finishes.