Potash Prices Were Flat to Positive Last Week
For the week ending September 1, potash prices were broadly flat to positive. The potash price environment continues to support producers (MOO) like Mosaic (MOS), PotashCorp (POT), Agrium (AGU), and Intrepid Potash (IPI).
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Last week, the granular grade of MOP (muriate of potash) in the US Cornbelt region remained flat week-over-week to $230 per metric ton. Last week’s prices at this location were 9% higher YoY (year-over-year) from $356 per metric ton.
Similarly, the standard grade of MOP in the Brazil location moved sideways week-over-week to $265 per metric ton. At this location, the prices were almost 14% higher YoY from $233 per metric ton in 2016.
In the South East Asia region, the standard grade of MOP prices rose by 40 basis points week-over-week to $249 per metric ton from $248 per metric ton. MOP prices at this region were just 3% higher YoY from $241 per metric ton.
Potash fertilizer prices have fared much better YoY compared to nitrogen or phosphorous fertilizers. Higher prices helped producers offset some of the losses through exposure to phosphate or nitrogen fertilizer segments. To learn more about how potash producers performed in 2Q17, read Big Fertilizer: Comparing the Major Players’ 2Q17 Results.
In the next part, we’ll discuss fertilizer affordability.