For the week ending August 18, potash prices at the three locations discussed in this series moved flat to negative week-over-week. However, potash prices remained strong compared to the levels observed in the same week last year.
Last week, the granular grade of muriate of potash in the US Cornbelt region fell as much as 3.2% week-over-week to $222 per metric ton from $230 per metric ton. Compared to the price of $229 per metric ton in 2016, last week’s potash prices in the Cornbelt region were almost 7% higher.
In the week ending August 18, potash prices in the Brazil region remained unchanged at $265 per metric ton—the 13th week that prices in Brazil moved sideways. However, potash prices in Brazil were 15% higher YoY (year-over-year) from the levels in the same week in 2016.
In Southeast Asia, potash prices remained unchanged week-over-week at $248 per metric ton. Last week was the 14th week that prices moved sideways in the Southeast Asia region. Similar to the above two locations, potash prices in Southeast Asia were 3% higher YoY.
Positive movements in potash prices helped producers (MOO) such as PotashCorp (POT), Agrium (AGU), Mosaic (MOS), and Intrepid Potash (IPI) offset some of the negative results from their other segments.
In the next part, we’ll discuss fertilizer affordability.