Fertiliser prices highest in decade

FERTILISER prices have surged to their highest level in at least a decade.

Price rises of 50% in the past year will add significantly to farmers’ costs, and may prevent them from increasing production enough to reduce the record global agricultural commodity prices. High oil prices and strong demand are expected to underpin prices set by fertiliser manufacturers around the world.

Farmers in the EU enjoyed very low prices for nitrogenous fertilisers such as urea in 2006, but prices have shot to record high levels now, having risen about 50% in a year.