Last week, potash prices were also broadly positive and managed to make new highs so far year-to-date. The increment in potash prices is in line with the overall trend in global fertilizer prices.
Granular potash prices in the NOLA (New Orleans) region of the US rose ~2.8% year-over-year from $225 per metric ton (or $248 per short ton) to $231 per metric ton (or $255 per short ton). Similarly, the granular potash prices in the Cornbelt region of the US also rose ~1.8% week-over-week to $254 per metric ton (or $280 per short ton) from $249 per metric ton (or $275 per short ton) a week ago.
In Brazil, prices of granular potash rose by 32 basis points week-over-week to $317 per metric ton from $316 per metric ton. As for the standard grade of potash, prices in Southeast Asia were broadly flat week-over-week at $283 per metric ton. Year-over-year, prices for potash remained strong for producers (MOO) such as Nutrien (NTR), Mosaic (MOS), Intrepid Potash (IPI), and Israel Chemicals (ICL).
For example, prices in NOLA rose by 21%, and in Brazil, prices rose by 20% year-over-year. Also, potash prices rose 14% in Southeast Asia and 12% in the Cornbelt region of the US.
With prices gaining momentum, let’s look at how fertilizer affordability was affected last week in the next article.