So far in this series, we have discussed how nitrogen and phosphate prices moved last week. While nitrogen and phosphate prices at some locations experienced a weekly increase, potash prices were broadly flat to negative week-over-week.
At three of the four locations in the above chart, potash prices were broadly flat week-over-week. These locations include NOLA (New Orleans), which experienced a sideways move to $217 per metric ton, Brazil, which also saw potash prices move sideways to $300 per metric ton, and Southeast Asia, which experienced a sideways move to $277 per metric ton.
The Cornbelt region of the US, however, experienced a weekly decline of 74 basis points to $245 per metric ton from $247 per metric ton a week ago. Potash prices, while showing weakness last week, were broadly higher year-over-year, which was similar to what we saw for nitrogen and phosphate fertilizers.
For example, potash prices were up 15% year-over-year in Brazil, and in the Southeast Asia location, potash prices were up by as much as 13% year-over-year. In NOLA, potash prices rose by 12% year-over-year, and in the Cornbelt region, potash prices were broadly up by as much as 5% last week.
Nutrien (NTR), Mosaic (MOS), and Israel Chemicals (ICL) will benefit from a positive move in potash prices (MOO). Intrepid Potash (IPI), which just released its earnings last week, rose on higher price realizations for fertilizers.