August 28, 2009 04:03pm ABB Grain has warned that it expects its 2009 full-year result to be hit by deterioration in fertiliser market conditions.
ABB chairman Perry Gunner said the world fertiliser industry had experienced a severe contraction in prices this year.
“While the world fertiliser price has recently begun to show encouraging signs of price support, the Australian market has seen a further reduction in prices.
“Slower applications of fertiliser have resulted in increases in stock carried, as ABB believes many producers are choosing to defer their fertiliser purchases in light of a reduction in Australian fertiliser prices.”
ABB Price at posting:
$9.40 Sentiment: None Disclosure: Not Held
