Similar to the fertilizer prices that we covered so far in this series, MOP prices have fallen significantly over the years. This trend has put pressure on existing companies to justify their expansion costs and maintain their margins.
Last week, potash prices in the US Corn Belt region fell. The average weekly potash prices fell another 41 basis points to $219.5 per metric ton from one week previously. Similarly, prices in Brazil stood at $234 per metric ton, which is 43 basis points lower week-over-week.
Similarly, prices at the other two locations in the above chart fell from the previous week, with prices in Vancouver falling 2.3% to $215 per metric ton and prices in Southeast Asia falling 41 basis points to $241 per metric ton. Average potash prices at the above four locations have fallen ~21% year-over-year.
In the next and final part of this series, we’ll compare price movements in fertilizer prices with crop prices.