Potash prices last week at each of the four locations in the chart below rose week-over-week. Similar to nitrogen and phosphate fertilizer prices, potash prices reached their peak so far this year at each of the locations.
Last week, potash prices in the NOLA (New Orleans) region of the United States rose 1.6% week-over-week to $235 per metric ton, from $231 per metric ton. Prices in the Cornbelt region of the United States rose 1.1% week-over-week to $257 per metric ton, from $254 per metric ton.
Outside the United States, potash prices in Southeast Asia rose 35 basis points to $284 per metric ton, from $283 per metric ton the previous week. In Brazil, prices rose 32 basis points to $318 per metric ton, from $317 per metric ton the previous week.
Year-over-year, potash prices rose significantly at each of the above four locations, raising the outlook for potash producers (NANR) Nutrien (NTR), Mosaic (MOS), Israel Chemicals (ICL), and Intrepid Potash (IPI).
In NOLA, potash prices rose 24% year-over-year, followed by Brazil with a 20% increase year-over-year. Potash prices in Southeast Asia rose 15% year-over-year, and in the Cornbelt, prices were up 13%.
Next, we’ll see how fertilizer affordability changed last week on the back of rising fertilizer prices.