The two big fertiliser co-operatives have announced further price cuts for farmers as world oversupply and weak demand force down international prices.
Ballance Agrinutrients started the ball rolling last week by reducing the price on many products, with a significant price reduction for potash to follow in the New Year.
The company said while the general expectation was that prices for phosphate rock, urea and sulphur would start to rise next year as supply and demand aligned, global pricing for potash was expected to remain sluggish.
Ravensdown on Monday reduced its prices for urea, superphosphate, DAP and ammonium sulphate.
Urea is $610 a tonne - about $30 a tonne cheaper than last week and $189 less than a year ago.
