How Did Potash Prices Perform Last Week?



Potash prices

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.

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Weekly movements

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.


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