MAP (monoammonium phosphate) prices continued to inch higher last week and hit new highs. Prices have continued to rise, indicating a favorable supply-demand environment for MAP fertilizers in the Brazil and NOLA (New Orleans) regions.
Last week, MAP prices in the NOLA region rose by almost 1% week-over-week to $412 per metric ton from $408 per metric ton a week ago. Similarly, MAP prices in Brazil rose by 22 basis points week-over-week to $449 per metric ton from $448 per metric ton. MAP prices continued to hit new highs last week, which may indicate that the rationing of supply may be helping prices rise.
Year-over-year, MAP prices remained strong on the back of last week’s upward movement. For example, MAP prices in the NOLA region rose by 27% year-over-year from $325 per metric ton a year ago in 2017. Similarly, MAP prices in Brazil rose by as much as 29% from $348 per metric ton a year ago.
Next, we will look at how potash prices moved last week.