Potash Prices Were Broadly Mixed Last Week
Muriate of potash prices
MOP (muriate of potash) is the key potash fertilizer (MXI) used globally. Like fertilizer prices, MOP prices have fallen significantly over the years.
Falling potash prices had a negative impact on potash companies. Intrepid Potash has been significantly pressured by falling potash prices. Read Key Updates on Intrepid Potash Stock and Its Outlook to learn more.
Let’s see how potash prices performed last week.
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For the week ending March 31, 2017, potash prices were broadly mixed at the above three locations. Overall, potash prices continued to show weakness in the potash environment. In the US Corn Belt, average weekly granular potash prices fell by 39 basis points to $234 per metric ton week-over-week.
Similarly, standard MOP prices in Southeast Asia were flat at $245 per metric ton. On the other hand, average weekly prices in Brazil rose 1.6% to $256 per metric ton week-over-week.
Positive moves in potash prices are key to potash producers including PotashCorp (POT), Intrepid Potash (IPI), Mosaic (MOS), and Israel Chemicals (ICL). These companies faced severe weakness in the market in 2016. On average, potash prices rose 5% from the same week in 2016.
Next, let’s look at how the Fertilizer Affordability Index performed last week.