29 Jan 2009

Ravensdown cuts fertiliser prices

12:51 pm on 29 January 2009

The Ravensdown fertiliser co-operative has announced further price reductions for its three main products of superphosphate, urea and DAP, effective from Friday.

The drop will mean that the price of superphosphate will now be $430 per tonne, DAP is just under $1000 per tonne and urea is just under $700 per tonne, for the direct debit price.

Chief executive Rodney Green says world prices have started to collapse from unprecedented levels seen last year and the company has lowered prices accordingly.

Although international prices for DAP and urea have dropped significantly, he says the same movement has not been seen in the raw materials used to make superphosphate and the company is using reserves from its financial hedging to cover this.

Earlier this month, Ballance Agri-nutrients announced a further reduction in the price of some of its fertiliser products.