In the week ending February 16, potash prices were broadly flat to positive compared to a week ago. Prices continued to be higher than they were a year ago in 2017.
In the NOLA (New Orleans) location, granular MOP (muriate of potash) prices rose 0.85% week-over-week to $215 per metric ton from $213 per metric ton a week ago. Similarly, in the Cornbelt region of the US, granular MOP prices rose 0.37% week-over-week to $248 per metric ton from $247 per metric ton a week ago.
In contrast to these two locations, the granular MOP prices in Brazil moved sideways week-over-week to $291 per metric ton. Similarly, the standard MOP prices in the Southeast Asia location also moved sideways to $260 per metric ton last week. With only a handful of players (MOO) such as Nutrien (NTR), Mosaic (MOS), Israel Chemicals (ICL), and Intrepid Potash (IPI), the supply has remained tight, which has supported prices this year.
Year-over-year, granular MOP prices in Brazil were up 18%, while in the Cornbelt and the NOLA regions, prices were up 8% year-over-year last week. Similarly, the standard MOP prices in the Southeast Asia location were up 7% year-over-year last week.
Next, we’ll discuss fertilizer affordability.