May 8, 2019NewsTrending
All over the country the sales of fertilizer have been picking up as demand is gradually improving because of the rains which has gradually started in most part of the country, some farmers in some parts of the country have already begin planting while others are still clearing their farms. Also in most part of the country NPK blends such as 15 15 15 are still scarce and increasing in price, which is attributed to the import ban placed on NPK.
There are also reports from blending plants that due to restriction of forex on fertilizer and related product by the CBN, the raw materials used for blending are also on the increase in the market, which could ultimately lead to higher costs of blended products. For this season the Rice Farmers Association of Nigeria and Maize farmers association are to blend crop specific fertilizer under the anchor borrowers program of the CBN.
South West: The southern region of the country are experiencing short supply of fertilizer from companies, thereby leading to scarcity of the products. As Companies had started receiving demand request from dealers for supply of products.
North Central: Gradual improvements in sales are being recorded as compared to previous reports, while some dealers have continued stocking up their stores in anticipation for a possible price hike in fertilizer when the season commence fully.
Insecurity continues to be a problem in this part of the country and farmers are quite hesitant in going back to the farm. However, some Agrodealers are optimistic that once the rains are fully established farmers would farm and fertilizers sales would improve.
Also, there are reports from some Agrodealers that, the security outfit in the country has mandated them to register with an association before they would be allowed to continue trading fertilizers especially Urea fertilizers.
In this part of the country market activities are gradually picking up, as farmers are purchasing fertilizers in anticipation of the rains, also NPK 20-10-10 is still in abundance in the market unlike NPK 15-15-15 whose prices has remained high due to its scarcity. But Urea prices continued to be stable, which was attributed to constant supply and some discount initiative being implemented by Indorama.
The rain fall has commenced in this part of the country and demand are gradually picking up. However this part of the country traditionally records low consumption of fertilizers annually.
Farming activities have started due to the stable rainfall, there are reports of scarcity and increase in price of NPK 15 15 15 in that region. However, some local producer in the region are producing and supplying their own brands of NPK 15 15 15 to the market, but reports has it that farmers are rejecting it because of low quality.