In recent weeks, potash prices have been rising and hitting YTD (year-to-date) highs. They were broadly flat to positive last week. Of the four locations in the chart below, Brazil was the only one to see a strong price increase.
In Brazil, potash prices rose 94 basis points week-over-week to $321 from $318 per metric ton. They rose 20% year-over-year from $265 per metric ton.
In US locations, potash prices were broadly flat week-over-week, with NOLA (New Orleans) prices moving sideways to $235 per metric ton and Cornbelt region prices staying at $257 per metric ton. Year-over-year, potash prices rose 24% in NOLA and 13% in the Cornbelt region.
South East Asia potash prices were also flat week-over-week, at $284 per metric ton. They rose 15% year-over-year from $248 per metric ton.
Potash prices have been stable compared to the other fertilizers we’ve discussed in this series, suggesting tight supply management by companies (MXI) such as Nutrien (NTR), The Mosaic Company (MOS), Intrepid Potash (IPI), and Israel Chemicals (ICL). In the next part, we’ll conclude the series with a look at how fertilizer affordability changed last week.