Potash Prices for the Week Ended August 11
Unlike nitrogen and phosphate fertilizers, potash fertilizers have seen positive momentum so far this year. That momentum and the ability to lower its debt obligation have helped Intrepid Potash (IPI) see impressive returns so far this year. Intrepid Potash doesn’t have exposure to nitrogen and phosphate fertilizers (MOO) like PotashCorp (POT), Mosaic (MOS), and Agrium (AGU).
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Last week, granular potash prices were broadly flat to positive. Prices in the Corn Belt region of the United States moved 1.6% higher week-over-week to $230 per metric ton, from $226 per metric ton the previous week. Year-over-year, potash prices in the Corn Belt were 13.0% higher last week.
In Brazil, granular potash prices remained flat week-over-week to $265 per metric ton, making it the 12th consecutive week that prices have remained flat at this location. Year-over-year, potash prices in Brazil were 15.0% higher last week.
The standard grade of potash at the Southeast Asia location also remained flat week-over-week at $248 per metric ton, making last week the 13th consecutive week for potash prices to remain flat at that location. Unlike the above two locations, potash fertilizer prices for Southeast Asia were about 3.0% higher year-over-year.
In the final part of this series, we’ll see how the fertilizer affordability index moved last week.