Ballance passes price benefit to farmers

Media Release
4 December 2013

Farmers stand to benefit from a global oversupply of plant nutrients and weak international demand, with Ballance Agri-Nutrients leading the domestic market down in its latest round of price cuts.

Ballance is reducing the price on many of its fertiliser nutrients on Friday 6 December, with a significant price reduction for potash to follow in the New Year.

The price reductions follow an earlier cut made in July to help farmers get a head start with spring nutrient applications.

Chief Executive Larry Bilodeau says Ballance’s philosophy is to keep pricing as competitive as possible and to quickly pass on benefits from smart purchasing or markets trend.

“We always have one eye on prices and one on what the markets are doing so our shareholders and customers get the best deals, especially at times of high demand.”

Mr Bilodeau said that while the general expectation is that prices for phosphate rock, urea and sulphur will start to trend upwards in 2014 as supply and demand aligns, global pricing for potash is expected to remain sluggish.

“We have secured a new shipment of potash at a lower price, and when this arrives in late January significantly lower prices will be applied so farmers can receive the full benefits of our purchasing.”

As farmers look to replace nutrients on the back of strong spring growth conditions Mr Bilodeau said there was good cause for maintenance fertiliser applications to keep pasture performing at its optimum and he expected demand for all products to continue well into the summer months.

Ballance’s new price list will be available from 6 December 2013.

ENDS

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