Why this commodity's price plunge is a win for farmers and shoppers

Fertiliser prices have fallen from their record highs in 2022, with urea now worth about a third of its price last year.

Australia still imports around 90 per cent of its urea needsUrea is the world's most commonly used nitrogen fertiliser and according to CRU analyst Chris Lawson, the price is now back to levels seen prior to Russia's invasion of Ukraine.

"Fertiliser is a surprisingly important commodity and is one of the key drivers in how crops perform and reach optimum yields.

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