Urea markets stay low
Global oversupply is likely to keep urea prices low for some time.
Norwegian-based nitrogen fertiliser giant, Yara International, says urea capacity increases outside China are weighing on global nitrogen markets.
The world's largest nitrogen product maker tipped a number of new plants would also enter the market in the coming year.
Global values were below $US200 a tonne – their lowest level for a decade.
US nitrogen capacity was up 2.4 million tonnes thanks to access to shale gas, Iranian output was growing noticeably and prices in the Arabian Gulf region were below world values.
Apart from China, extra global production capacity would deliver about 8.1m tonnes of urea this year, which would easily outpace the 3m tonnes of demand growth normally expected.
Yara has forecast price pressure on manufacturers persisting into 2018.
Fertoz gains traction
Publically-listed organic fertiliser exploration company, Fertoz, is tipping a maiden profit for its Australian operations having also confirmed long-anticipated rock phosphate sales in North America.
Product from a 10,000 tonne Montana deposit will be sold in Canada and the US Midwest.
Fertoz is also securing organic input accreditation from Californian and Washington State regulators and organic certification has been granted in Australia.
“We have achieved another strong quarter with the number and value of quotations to customers in Australia and North America reaching a new high,” said executive chairman, Patrick Avery.
He said organic certification in the US and the success of US farm trials were finally starting to bear fruit, with small tonnage sales recorded last quarter and since.
Fertoz, which imports the FertAg fertiliser range from Asia to sell in Australia, also has several rock phosphate mine sites it is developing in British Columbia, Canada.
The company wants to become an integrated global fertiliser supplier to organic and conventional agricultural markets.
Zanda McDonald award opens
The search is on for talented young agriculture sector leaders from Australia and New Zealand to apply for the 2018 Zanda McDonald Award.
The award, regarded as one of Australasia’s most prestigious badges of honour for young agribusiness leaders within primary industry, and has a prize package worth more than $50,000.
It is run by the Platinum Primary Producers (PPP) Group, a network of 130-plus influential agribusiness men and women who give the winner direct access to the wealth of knowledge existing within the group’s membership.
Winners also receive an all-expenses paid overseas mentoring trip, a place on Rabobank's farm manager’s or executive development program and $1000 cash.
Applications are open to individuals aged 35 years or younger until September 1.
Download an application from www.pppgroup.org