Last week, MAP (monoammonium phosphate) prices mimicked the movements in DAP (diammonium phosphate) prices, which fell week-over-week, as we discussed earlier.
However, MAP prices remained well above the levels observed in the corresponding week a year ago.
In Brazil, MAP prices fell week-over-week by as much as 24 basis points to $421 per metric ton from $422 per metric ton a week earlier. After reaching a peak of $434 per metric ton in the week that ended on March 2, last week marked the sixth consecutive week during which prices fell at the Brazil location.
While investors in phosphate companies such as the Mosaic Company (MOS), Nutrien (NTR) (POT), and Israel Chemicals (ICL) keep a close eye on the direction of prices in Brazil, MAP prices at this location rose 11% YoY (year-over-year) compared to $379 per metric ton a week earlier.
In NOLA (New Orleans), MAP prices also showed weakness, with prices moving sideways to $386 per metric ton week-over-week. Like in Brazil, however, MAP prices rose as much as 17% YoY from $331 per metric ton in the corresponding week of 2017.
Overall, both MAP and DAP prices have displayed strength so far this year, which remains positive for fertilizer companies (MOO).