Potash prices continued to be firm last week, which was a trend we’ve seen in potash prices for the most part of this year. Potash producers (MOO) have seen improvement in price realization. Intrepid Potash (IPI) has risen ~86.5% year-to-date, and PotashCorp (POT), Agrium (AGU), and Israel Chemicals (ICL) all are in positive territory so far this year.
Last week, the granular urea prices in the Corn Belt region of the US fell by 39 basis points week-over-week to $230 per metric ton from $231 per metric ton a week ago. Year-over-year, prices at this location remained higher by 5% from $220 per metric ton in the corresponding week a year ago in 2016.
In Brazil, granular urea prices rose by 37 basis points week-over-week to $274 per metric ton last week from $273 per metric ton a week ago. In Brazil, prices for the granular grade of potash were almost 17% higher last week compared to levels seen a year ago in the corresponding week of 2016.
Moving over to the Southeast Asia region, prices for the standard grade of potash rose by as much as 1.6% week-over-week to $253 per metric ton. Year-over-year, the potash prices in this location rose by 5%.
While potash prices remain firm, we’ll continue tracking weekly movements at the above three locations. We’ll look at fertilizer affordability next.