In the week ending January 26, potash prices at the locations discussed below were broadly flat to positive and remained strong compared to levels observed a year ago.
Last week, the granular potash prices in Brazil rose 1% week-over-week to $291 per metric ton from $288 per metric ton. However, in the Cornbelt region of the US, the granular potash prices were flat at $242 per metric ton, making it the fourth consecutive week of flat prices at this location. Similarly, at NOLA (New Orleans), the prices were flat week-over-week at $213 per metric ton.
As for the prilled urea prices, they also moved sideways at $259 per metric ton last week for the third consecutive week.
The granular potash prices in Brazil rose 20% year-over-year from $241 per metric ton, while the prices in NOLA stood higher by 10% year-over-year from $193 per metric ton. In the Cornbelt region, prices stood 8% higher year-over-year from $224 per metric ton.
The potash market (MXI), which includes players such as Nutrien (NTR), Mosaic (MOS), Intrepid Potash (IPI), and Israel Chemicals (ICL), has seen tighter supply-demand dynamics supporting higher prices this year.
In the concluding part of this series, we’ll discuss fertilizer affordability.