Last week, the weekly momentum in potash prices at the locations discussed below was broadly flat to positive. This trend shows the continuing stability in potash prices so far this year on the back of tight supply-demand dynamics.
Last week, the granular MOP (muriate of potash) prices in NOLA (New Orleans) in the US (NANR) rose by as much as 45 basis points week-over-week to $203 per metric ton from $202 per metric ton a week ago. Year-over-year, potash prices in this location rose 8% from $188 per metric ton.
The granular potash prices in the Cornbelt region of the US were flat week-over-week at $231 per metric ton. Last week was the seventh consecutive week that potash prices in this location moved sideways. Year-over-year, potash prices in this location were 2% higher from $226 per metric ton.
Outside the US, granular potash prices in Brazil were also flat last week at $276 per metric ton, making it the seventh consecutive week without any change in prices. However, year-over-year, potash prices in this location rose the most by as much as 17%.
The prices for the standard grade of potash in Southeast Asia were also flat week-over-week at $257 per metric ton. Year-over-year, potash prices at this location were 6% higher.
Canpotex players such as PotashCorp (POT), Mosaic (MOS), and Agrium (AGU) are sold forward, which will continue to give strength to potash prices. Stable prices will also benefit the potash segments of Israel Chemicals (ICL) and Intrepid Potash (IPI).