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MAP Prices Fell in the Week Ended March 16

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MAP prices

In the earlier part of this series, we saw that DAP (diammonium phosphate) prices were mixed overall last week. MAP (monoammonium phosphate) prices were broadly negative over the same period.

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Weekly movements

Last week, MAP prices in both Brazil and NOLA (New Orleans) fell week-over-week. Prices in Brazil fell by as much as 93 basis points week-over-week to $428 per metric ton from $432 per metric ton a week ago. Similarly, prices in NOLA fell by as much as 51 basis points week-over-week to $387 per metric ton from $389 per metric ton a week ago.

After a steady increase in MAP prices in Brazil, last week was the second week in a row to see a weekly decline. NOLA also reflected this trend with last week being the second week in a row of price declines.

Investors (MOO) in phosphate companies such as Mosaic (MOS), Nutrien (NTR) (AGU), and Israel Chemicals (ICL) should closely watch the momentum in phosphate prices.

Yearly movements

While the weekly prices disappointed, year-over-year prices remained higher. For example, in NOLA, MAP prices were up by 11%, and in Brazil, the prices were up by 8%.

Read the next part to know how potash prices moved last week.

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