Monoammonium phosphate prices
MAP (monoammonium phosphate) is the second-most used phosphate fertilizer after DAP (diammonium phosphate). In the week ended May 20, 2016, the average price for MAP in Brazil inched up slightly to $353 per metric ton, compared with $352 per metric ton the previous week. MAP prices remained above the low of $329 per metric ton from the week ended February 12, 2016.
The average prices for MAP were lower than they were one year ago. MAP’s average price of $353 per metric ton in the week ended May 20 was 29% lower than the average price of $497 per metric ton in the corresponding week one year before. In contrast with DAP prices, MAP prices are stabilizing at the current levels.
Companies and ETFs
Despite MAP’s price falling over the past one-year period, it seems to be recovering and staying above the low of $329 per metric ton seen in the second half of February 2016.
Mosaic (MOS), PotashCorp (POT), Israel Chemicals (ICL), and Agrium (AGU) produce phosphate fertilizers and are affected by falling fertilizer prices. You could consider investing in the SPDR S&P North American Natural Resources ETF (NANR), which invests about 1.6% of its portfolio in MOS. In the next part of this series, we’ll look at phosphate inventory levels.