Irish suppliers were urged to reduce prices for mineral fertilizers

The Irish Farmers’ Association called on producers and traders to reduce the price of mineral fertilizers supplied to farmers.

“We have seen a steady decline in the cost of natural gas since September 2022, which is the main driver of mineral fertilizer prices,” said Tim Cullinan, President of the Irish Farmers’ Association. “Therefore, now we should see a significant reduction in prices for mineral fertilizers in line with what is happening with natural gas. However, this is not happening.”

According to the statement of Tim Cullinan, since September 2022, the price of granulated carbamide in the UK has fallen by more than 40%, a similar decrease in its cost is observed in other European countries, except Ireland. The chemical industry in Europe is returning to normal levels of capacity utilization after a massive decline last year.

“The time has come to stop speculation on prices and bring them down for farmers. Mineral fertilizer companies made huge profits in 2022. Now they need to cut prices instead of looking for new windfalls,” said Tim Cullinan. “I encourage traders to do the same.”