Guy Barnett to head up fuel and fertiliser delegation

A Tasmanian delegation is heading to Singapore and Indonesia to strengthen the state’s fuel security and fertiliser supply, and to promote key Tasmanian exports, as a new report highlights that the global fertiliser market faces a prolonged period of tight supply, weak affordability and heightened price risk.

Deputy Premier Guy Barnett will head up the delegation.

“A key focus of this mission will be engaging with government and industry partners on energy and fuel security,” Mr Barnett said.

“We are continuing work to establish an on-island strategic fuel reserve, and in Singapore, I will be meeting directly with senior Government officials in relation to fuel security.

“I’ll also be having important conversations on building more resilient supply chains for essential inputs such as fertilisers, including meeting with fertiliser giant PT Pupuk Kalimantan Timur in Indonesia.”

Around 20 people will be part of the delegation heading to Indonesia and Singapore.

“The mission will include high-level meetings with government and industry, promoting Tasmania at a tourism showcase in Singapore and delivering a Tasmanian Stand at the largest Food & Hospitality Asia expo with more than 80,000 attendees expected,” Mr Barnett said.

“These markets already have strong demand for our premium food and beverage products, tourism experiences, education services, and advanced manufacturing and defence capability - sectors critical to Tasmania’s economy that we are helping to grow further through this trade mission.

“Indonesia is a key driver of Tasmania’s international trade, ranking as Tasmania’s third-largest trading partner with exports of $351.84 million, while Singapore is not only Tasmania’s twelfth-largest export destination but also a strategic gateway to Asia, making it a key partner for increasing trade and investment.

“This mission sends a clear message that Tasmania is open for business, aligned with national priorities, and ready to trade and strengthen our strategic relationships with Singapore and Indonesia.”

Meanwhile, a new report shows that even if current geopolitical tensions ease, it will still take some time for the fertiliser market to stabilise.

Rabobank’s Semi-annual Fertiliser Outlook said the international market ended the first quarter of the year under severe strain.

“The escalating geopolitical disruption in the Middle East and the effective closure of the Strait of Hormuz have removed a substantial volume of fertilisers and critical inputs from global trade, triggering an abrupt supply shock that cannot be quickly replaced,” the report said.

“The resulting market environment is characterised by tight availability, sharply higher prices and elevated volatility across major nutrients.”

Fertiliser affordability was already under strain in 2025 due to increases in nitrogen and phosphate prices.

“Prices for nitrogen and phosphates have risen far faster than agricultural commodity 

prices, which is compressing farm margins globally and accelerating affordability 

pressure,” the report says. 

“RaboResearch’s fertiliser affordability index has moved decisively into negative territory and is expected to remain constrained throughout 2026, with only limited recovery in the second half of the year.”