Both co-ops revised prices early last month, Ballance leading the way on June 6, dropping DAP $90 to $990/t bulk ex store, and raising urea $80/t to $860/t. One day later Ravensdown followed suit, matching Ballance’s prices for the main grades.
Ballance chief executive Larry Bilodeau told Rural News the main point to note is most product prices are unchanged “despite upward movements internationally”.
DAP prices spiked earlier in the year but have since come down, allowing the adjustment, while urea “has had a wild ride with prices going up almost US$300/t and then trending down”.
Bilodeau notes the price change here is minor in comparison to movements in US markets.
“We anticipated [recent] urea price reductions and thus the rather modest increase. We have signalled that if prices continue to fall we would look at a reduction in the next few months.
“We are in volatile times and managing prices with our dollar moving and prices bouncing the way they have been is a real challenge. The New Zealand farmer is fortunate we have been able to manage this with good purchasing and they have not seen the huge upside in prices that has happened overseas.”
Ravensdown was unable to comment on its price changes before Rural News went to press .
