uploads///MAP Prices in Brazil

MAP Prices Were Firm for the Week Ending September 15

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Sep. 20 2017, Updated 8:06 a.m. ET

MAP prices

In recent months, MAP (monoammonium phosphate) prices in Brazil have been on a downward trajectory. However, MAP prices appear to have found firmness in recent weeks. The prices are even seeing slight upward movement. The weakness in MAP prices is a continuation of the theme that we have seen for phosphate fertilizers. The weakness has been negative for Mosaic (MOS), PotashCorp (POT), Agrium (AGU), and Israel Chemicals (ICL).

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Weekly prices

For the week ending September 15, the weekly MAP prices in Brazil rose by 29 basis points week-over-week to $346 per metric ton from $345 per metric ton a week ago. In the above chart, you can see that MAP prices have fallen as much as 15%, which is far from the peak of $400 per metric ton achieved in March 2017.

On the positive side, MAP prices are still higher than last year’s lowest point of $328 per metric ton in December 2016. Notably, MAP prices have continued to struggle throughout most of 2017. The current week’s price levels are almost 3% lower than the levels in the same quarter in 2016.

Phosphate producers (NANR) see Brazil as a strong market. It could lift fertilizers due to the growing agricultural market. However, weak prices are still a concern for most producers.

In the next part, we’ll discuss potash prices.

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