11 May 2012 15:49 [Source: ICIS news]
LONDON (ICIS)--The average price of fertilizers in Poland increased by 19.6% year on year in 2011, the Polish Institute of Agricultural and Food Economics said on Friday.
Potassium-based fertilizers edged up in price by 3.2%, while the cost of calcium-based fertilizers increased 5.6%, it said.
More than 80% of Polish farms used nitrogen fertilizers, while about half applied NPK varieties, it noted.
Strong demand pushed up fertilizer prices last year in Poland, said investment bank Wood & Company, but it cautioned that weaker year-on-year profitability in the first quarter seen at NPK producer Zaklady Chemiczne Police (ZChP) was partly attributable to stalling multi-ingredient fertiliser demand.
“Wide-spread winter crop damage has put a dent in farmers’ budgets,” said an analyst at the bank, Piotr Drozd.
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