Farmer-owned co-operative Ravensdown said it had cut its fertiliser prices thanks to softer demand globally and increased production.
Ravensdown said it would charge $610 a tonne for urea, down $31 per tonne from last week, and down $189 from this time last year.
"The global trends still point to a softening of prices on urea products, although in the last few days we have seen a small lift in world prices," chief executive Greg Campbell said in a statement.
Superphosphate is down $10 per tonne to $324 per tonne and ammonium sulphate is $550 per tonne a fall of $49.
Campbell said the investment by Saudi Arabi in its urea production facilities had been "immense".
"This capacity is coming on stream at a time when the demand from developing countries such as India remains soft," he said. Campbell said lower prices will add confidence to the farming sector.
