OMAHA (DTN) -- Average retail fertilizer prices continued on the well-worn path higher the first week of February 2019, according to retailers surveyed by DTN. This marks the fourth consecutive week price for all eight of the major fertilizers have been higher.
While prices are higher compared to last month, only one was up a significant amount. UAN32 was 5% higher compared to the previous month with an average price of $318 per ton.
The remaining seven major fertilizers were slightly higher. DAP had an average price of $511 per ton, MAP $536/ton, potash $385/ton, urea $408/ton, 10-34-0 $470/ton, anhydrous $596/ton and UAN28 $271/ton.
On a price per pound of nitrogen basis, the average urea price was at $0.44/lb.N, anhydrous $0.36/lb.N, UAN28 $0.48/lb.N and UAN32 $0.50/lb.N.
Canadian fertilizer company Nutrien Ltd. announced last week it has agreed to buy Actagro LLC, a company that produces sustainable soil- and plant-health products, according to Dow Jones newswire.
Nutrien will pay $340 million for Actagro, which includes about $20 million in working capital. The deal is expected to close in the first half of this year.
Nutrien, which itself was recently formed in January 2018 with the merging of PotashCorp and Agrium, expects the deal will add to earnings in the first year. The company expects the business to generate about $55 million in run-rate EBITDA (earnings before interest, tax, depreciation and amortization) two years after the close with the realization of savings and organic growth opportunities.
Actagro has about 30 products, which have "a strong track-record of increasing crop productivity and financial returns for growers," according to Nutrien.
Actagro's products are produced at two facilities in California and Arkansas and distributed globally, including Nutrien's retail business. The acquisition includes Actagro's research and development team, and a near-complete research and development facility in California.
All eight of the major fertilizers tracked by DTN are now higher compared to last year with prices shifting higher. MAP is 9% more expensive, both DAP and potash are 12% higher, 10-34-0 is 13% more expensive, urea is 15% higher, UAN28 is 19% more expensive, anhydrous is 21% higher and UAN32 is now 22% more expensive compared to last year.
DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Not all fertilizer prices change each week. Prices are subject to change at any time.
DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business.
Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32.
|Feb 5-9 2018||458||493||344||355|
|Mar 5-9 2018||463||503||349||367|
|Apr 2-6 2018||478||508||352||370|
|Apr 30-May 4 2018||485||505||353||368|
|May 28-June 1 2018||483||504||354||364|
|Jun 25-29 2018||485||505||354||364|
|Jul 23-27 2018||486||504||356||366|
|Aug 20-24 2018||487||514||356||364|
|Sep 17-21 2018||494||520||362||384|
|Oct 15-19 2018||498||518||365||405|
|Nov 12-16 2018||500||530||368||407|
|Dec 10-14 2018||505||533||375||407|
|Jan 7-11 2019||508||533||381||407|
|Feb 4-8 2019||511||536||385||408|
|Feb 5-9 2018||415||492||227||261|
|Mar 5-9 2018||422||499||234||272|
|Apr 2-6 2018||425||508||239||274|
|Apr 30-May 4 2018||431||510||241||277|
|May 28-June 1 2018||439||504||241||276|
|Jun 25-29 2018||440||504||242||277|
|Jul 23-27 2018||442||501||243||279|
|Aug 20-24 2018||446||481||233||271|
|Sep 17-21 2018||448||494||239||278|
|Oct 15-19 2018||457||494||243||283|
|Nov 12-16 2018||457||519||245||287|
|Dec 10-14 2018||455||552||261||302|
|Jan 7-11 2019||461||573||267||304|
|Feb 4-8 2019||470||596||271||318|
Russ Quinn can be reached at email@example.com
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