Last week, MAP (monoammonium phosphate) prices in Brazil continued their uptrend, while prices in NOLA (New Orleans) moved sideways. Brazil remains a key market for fertilizer producers (MOO) such as CF Industries (CF), Mosaic (MOS), Israel Chemicals (ICL), and Nutrien (NTR).
Last week, MAP prices in Brazil rose 1.1% week-over-week to $447 per metric ton, from $442 per metric ton. MAP prices in Brazil soared to a new high since January 2016.
MAP prices for the NOLA region were unchanged at $404 per metric ton. Just two weeks ago, they hit a high there of $408 per metric ton. While it may be too early to tell if the prices are reversing in NOLA, the overall fertilizer market is currently trending upward.
Year-over-year, MAP prices at both Brazil and NOLA were significantly higher. In Brazil, prices rose 23% from $355 per metric ton, and in NOLA, prices rose 28% year-over-year from $318 per metric ton.
Next, let’s look at the price movements for potash fertilizer last week.