In the week ending March 30, 2018, potash prices were broadly flat to positive. Last week, the prices were also strong YoY (year-over-year)—similar to what we saw for nitrogen and phosphate fertilizers.
Last week, granular potash prices in the NOLA (New Orleans) region of the US rose by as much as 42 basis points week-over-week to $216 per metric ton from $215 per metric ton a week ago.
In the Cornbelt region of the US, potash prices moved sideways to $247 per metric ton from the previous week. Similarly, granular potash prices in Brazil moved sideways from a week ago to $298 per metric ton.
Standard potash prices also moved sideways in the South East Asia location to $273 per metric ton.
Granular potash prices at each of these four locations remained higher. In Brazil, potash prices rose as much as 16% YoY last week. In the Cornbelt region, prices rose 5%. In NOLA, potash prices rose 7% YoY. Nutrien (NTR) (POT), Mosaic (MOS), Intrepid Potash (IPI), and other players in the industry (MOO) have benefited from higher potash price movements.
The prices for the standard grade of potash rose 11% YoY following the granular-grade trend.
Next, we’ll discuss fertilizer affordability.