Earlier in this series, we discussed how the weekly momentum in DAP (diammonium phosphate) prices was broadly mixed. The MAP (monoammonium phosphate) prices also had mixed momentum week-over-week.
In the week ending March 23, the MAP prices in Brazil fell by as much as 46 basis points week-over-week to $426 per metric ton from $428 per metric ton the previous week. As you can see in the above chart, the MAP prices in Brazil increased in recent weeks. Last week, the pullback wasn’t a surprise.
In contrast to how the prices moved in Brazil, the MAP prices in the NOLA (New Orleans) region of the US moved higher by as much as 52 basis points week-over-week to $389 per metric ton from $387 per metric ton a week ago.
The MAP prices in Brazil have risen 10% YoY. In the NOLA location, the prices have risen by as much as 13% YoY.
Previously, we discussed how companies (MOO) like Mosaic (MOS), Nutrien (NTR) (AGU), and Israel Chemicals (ICL) were trading lower YoY despite an uptick in DAP prices. Even higher MAP prices didn’t lift these companies.
Next, we’ll discuss potash prices.