Farmers are to be hit with a 37% increase in the cost of fertiliser as global demand pushes up the price of imported ingredients.
Balance Agri-Nutrients and Ravensdown, which control about 90% of the New Zealand fertiliser market, say farmers can expect to pay an extra $100 per tonne of superphosphate within six months, pushing the price up 37% to $366.
Balance spokesman Peter Mourits said the price rise is driven by global demand for fertiliser, particularly from China and India, and the growing thirst for bio-fuel, which requires much more superphosphate than pasture.
In the past 18 months, sulphur prices have “gone through the roof”.
Rock phosphate prices have soared 300% to $US200 per tonne, report Mourits and Ravensdown chief executive Rodney Green