MAP (monoammonium phosphate) prices last week were broadly negative, which was similar to the weakness in DAP (diammonium phosphate) prices last week that we discussed in the earlier part of this series.
MAP prices at both the above locations declined week-over-week on average by 70 basis points. In NOLA (New Orleans), MAP prices declined week-over-week by 52 basis points to $386 per metric ton from $388 per metric ton. Similarly, in the Brazil location, MAP prices declined by as much as 94 basis points to $422 per metric ton from $426 per metric ton.
One of the positives for companies such as Mosaic (MOS), Nutrien (NTR) (POT), and CF Industries (CF) is the higher year-over-year prices that we’ve seen for fertilizers. MAP fertilizers were also higher by 10% year-over-year in Brazil and by 20% in the NOLA location (NANR).
The case for potash fertilizers is also similar to year-over-year prices, which are broadly higher compared to levels last year. We’ll discuss potash prices more in the next part of this series.