Earlier in this series, we saw how DAP (diammonium phosphate) prices were muted in the week ending September 21. The MAP (monoammonium phosphate) prices were mixed during the same period.
The MAP prices in the NOLA (New Orleans) region rose by as much as 47 basis points week-over-week to $432 per metric ton. The MAP prices in the NOLA region reached a new high, as you can see in the above chart. In contrast, the MAP prices in Brazil declined by 22 basis points week-over-week to $457 per metric ton from $458 per metric ton.
Despite the mixed momentum in DAP and MAP prices last week, they have been strong. The prices have been a positive catalyst for companies (MOO) like Mosaic (MOS), Nutrien (NTR), and Israel Chemicals (ICL). The DAP prices have been significantly higher YoY—in excess of 15%. The MAP prices have increased 29% YoY in Brazil and 27% in NOLA.
Next, we’ll discuss potash prices and fertilizer affordability.