Large fertiliser co-operative Ballance Agri-Nutrients has again reduced prices on most fertilisers and will pass on the savings to farmers.
The price changes take effect today.
Balance sales general manager Andrew Reid said that high global stocks of urea, particularly in China, and increased international manufacturing of di-ammonium phosphate (DAP) have contributed to lower prices for both products.
Urea had dropped from $645 a tonne to $605/t and DAP from $850/t to $775/t.
International prices for phosphate rock have also softened and its superten product has been lowered from $327 to $315.
Most trace elements have reduced because the price of core ingredients have fallen, however boron and magnesium sulphate prices have risen.
Reid said the co-operative would continue to monitor international market trends and ensure they were reflected in domestic fertiliser prices during quarterly reviews.