The move follows calls from the NFU and government for more current data, as previously AHDB was updating on UK fertiliser price data on a monthly basis.
With the situation changing on an almost daily basis, the NFU is grateful for the additional transparency that this regular reporting will provide farmers.
The war in Iran has led to an effective blockade of the Strait of Hormuz, via which around 20% of the world’s oil and gas shipments pass through.
Natural gas accounts for between 60-80% of the input costs associated with the production of nitrogen fertilisers.
Difficulties remain with red diesel pricing, as there is no recognised index. However, the Competition and Markets Authority has now committed to monitoring the sale of fuel, including red diesel, which will help provide some transparency within the market.
“We have called for greater transparency in the fertiliser markets, as a matter of urgency, to support farmer confidence and decision-making.”
NFU Deputy President Paul Tompkins
NFU welcomes the news
These developments follow NFU President Tom Bradshaw's meeting with Defra Secretary Emma Reynolds and Farming Minister Dame Angela Eagle earlier in the month, where he raised members' concerns over lack of transparency on pricing for key inputs, with some farmers not receiving a price until delivery.
Responding to the news, NFU Deputy President Paul Tompkins said: “With the conflict in the Middle East affecting fertiliser cost and availability for UK farmers and growers on a daily basis, we have called for greater transparency in the fertiliser markets, as a matter of urgency, to support farmer confidence and decision-making.
“We are pleased that government has listened to our concerns and has asked AHDB to provide regular reporting on fertiliser supply and publish price data every week. This will provide a clearer picture of the impact on domestic food production.
“UK farmers need a functioning fertiliser market that is reliable and affordable, so they are able to continue to access a wide range of safe, effective and affordable products and keep delivering profitable, resilient businesses.”
AHDB’s Chief Economist Rohit Kaushish said: “Given its importance to agricultural cost of production and the decisions being made by farmers in the months ahead, greater visibility on the fertiliser market is critical to support the ability of the sector to respond to the impacts of the conflict.
“Weekly reporting serves to provide a more granular view on the market impacts which will support the responsiveness of both industry and policy makers to events as they develop.”
Get the latest prices at: AHDB | GB fertiliser prices.
