In the week ended April 6, potash prices were broadly flat to positive unlike what we saw for nitrogen and phosphate fertilizers. Potash prices remained strong given that the industry is more consolidated after the merger of PotashCorp (POT) and Agrium (AGU) (NTR).
Last week, potash prices in the NOLA (New Orleans) location in the US (XLB) rose as much as 42 basis points week-over-week to $217 per metric ton from $216 per metric ton. However, in the Cornbelt region of the US, potash prices were broadly flat week-over-week at $247 per metric ton.
In Brazil, potash prices remained unchanged week-over-week at $298 per metric ton. In the Southeast Asia location, potash prices rose 37 basis points week-over-week to $274 per metric ton from $273 per metric ton a week ago.
Compared to all of the above locations, potash prices in Brazil rose the most year-over-year by 16%, while prices in Southeast Asia were higher by 12% over the same period. In the NOLA location, prices were higher by 8% year-over-year, while in the Cornbelt region, prices were up 5% year-over-year.
Next, we’ll discuss fertilizer affordability in more detail.