Well-placed to weather conflicts
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
Ravensdown returned savings of about $1.3 million to its farmers.
The savings are thanks to the difference between the two superphosphate manufacturers' web-listed price for customers buying super-based products between September 1 and December 1.
Since 1 September, when Ravensdown capped its spring season super price at $320 per tonne, the value difference compared to the only other superphosphate manufacturer in New Zealand has been $7 per tonne. Some products, such as sulphur superphosphate, saw a $13 per tonne difference across the three months.
"Keeping prices capped and that low for the crucial spring months adds up to an early rebate for customers who needed the money more than we did," says Greg Campbell, Ravensdown chief executive.
From December 1, Ravensdown is taking the lead and reducing potash by $20 per tonne and ensuring other products such as urea and DAP are currently unchanged at $575 and $875 per tonne respectively.
"By moving superphosphate up $10 to $330 per tonne from 1 December, we effectively delayed the impact of any price rise during those important spring months," says Campbell.
"Even with this move, we continue to shield shareholders from the full cost of their superphosphate. We'll continue to closely monitor both global commodity prices and the falling exchange rates over the summer months.
"Despite exchange rate pressures and short term volatility, we are seeing gains in our operational efficiencies and our global suppliers supporting us as we strive to deliver all-year value to shareholders."
As farmers potentially face an El Nino summer, early superphosphate application is advisable to miss the rush before autumn rains hit. Meanwhile N-Protect, which is a coated urea product that reduces losses of nitrogen to the atmosphere, is proving valuable in hot and dry conditions.
The Ministry for the Environment (MfE) has found itself in a stoush with NZPork over the controversial National Policy Statement for Highly Productive Land (NPS-HPL).
Fonterra says the sale of its global consumer business and its Oceania and Sri Lankan operations could take 18 months to complete.
The lobby group the Methane Science Accord (MSA) says it welcomes a recent government move to seek outside advice on reducing biological methane targets, rather than relying on recommendations made by the Climate Change Commission.
Well-known scientist Jock Allison has passed away.
After a decade of consultation and court battles, Environment Southland has officially adopted a plan to prevent further decline in the region's water quality.
Farmers are throwing down the gauntlet to politicians - hold an independent inquiry into rural bank lending or face tough questions from the farming sector.