MAP (monoammonium phosphate) prices have shown strength in recent weeks, moving higher to peak at $403 per metric ton in Brazil. Prices continue to move higher in NOLA (New Orleans) in the United States (NANR).
Last week, which ended December 15, 2017, MAP prices in Brazil fell week-over-week to $401 per metric ton from $402 per metric ton. The prices are still trading at peak levels compared to the recent two-year period, as you can see in the above chart. Year-over-year, prices in Brazil rose 22% from $328 per metric ton.
Brazil continues to remain strong on the back of high agribusiness activity. The market there is of particular interest to fertilizer companies such as PotashCorp (POT), Mosaic (MOS), Agrium (AGU), and Israel Chemicals (ICL).
At NOLA, DAP prices rose even higher last week, rising 1.9% week-over-week to $385 per metric ton from $378 per metric ton. Last week was the fifth straight week of price increases week-over-week for MAP at this location. Year-over-year, MAP prices at this location were 28% higher from $301 per metric ton the previous week.
The strength in MAP and DAP prices continues to indicate improving conditions for the phosphate environment, which was in doubt just a few months ago. However, it would be too early to say whether the situation for phosphate fertilizers has reversed.
Next, let’s take a look at potash fertilizer price movements.