Assessing the Potash Shipments of Major Companies in 2Q17
Potash fertilizers have had a better run than nitrogen fertilizers so far this year. The demand for phosphate fertilizer remains firm, and companies expect total shipments next year to grow modestly.
Below, we’ll review how the potash shipments fared in 2Q17 for the major producers.
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In 2Q17, median potash shipments grew by 7% YoY (year-over-year) to 6.6 million tons, up from 6.1 million tons in 2Q16. Shipments were broadly affected last year as customers waited for fertilizer prices to bottom out and delayed contract settlements in key regions. This year, demand has gained momentum as a result of a spillover from last year.
Shipments by companies
Intrepid Potash (IPI) saw the most shipment growth in 2Q17, rising 20% YoY from 152 thousand tons to 183 thousand tons. But Intrepid’s potash shipment volume gains were minute when compared with PotashCorp’s (POT) 2.3 million tons, which represents an 11% YoY growth from 2.1 million tons one year previously.
Mosaic’s (MOS) shipments grew 7% YoY to 2.1 million tons, up from 2.0 million tons in 2Q16, while Agrium (AGU) saw potash shipment growth of 2% YoY to 714 thousand tons, up from 697 thousand tons in 2Q16. Israel Chemicals (ICL) saw a small increase in shipments—by 1% YoY to 1.1 million tons, up from 1.2 million tons in 2Q16.
Notably, all the companies (MOO) in the above chart experienced growth in potash shipments in 2Q17.