Inside the Latest Potash Price Movements
Last week (ended July 14), potash prices failed to show any momentum. The price movement of the granular grade of potash was flat to negative, while the standard grade remained flat on a weekly basis. That said, potash fertilizers have shown the strongest YoY (year-over-year) momentum among phosphate and nitrogen fertilizers.
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Granular MOP (muriate of potash) in the US Corn Belt fell 2% last week to $223 per metric ton, down from $228 per metric ton one week previously. In Brazil, the granular grade of MOP remained unchanged at $265 per metric ton. Last week was the eighth straight week for MOP prices in Brazil to remain flat.
The standard grade of MOP in Southeast Asia, meanwhile, also remained unchanged last week at $248 per metric ton. Last week marked the ninth straight week for prices of the standard grade of MOP to remain unchanged.
Granular MOP prices in Brazil rose 23% YoY last week, and in the Corn Belt, prices rose 12% YoY. The standard grade of MOP in Southeast Asia was just 2% higher YoY, which might explain why some potash producers such as Intrepid Potash (IPI) have seen growth as high as 31% so far this year.
Continue to the next and final part of this series for a closer look at the Fertilizer Affordability Index.