Last week, potash prices didn’t show movement in NOLA (New Orleans) or the Cornbelt region of the US. However, prices in Brazil and Southeast Asia gained week-over-week. Companies (XLB) such as Nutrien (NTR), Mosaic (MOS), and Israel Chemicals (ICL) have experienced stability in potash prices more than in nitrogen fertilizer prices, which are more volatile as a result of the volatility in natural gas prices.
Last week, granular potash prices in Brazil rose by ~20 basis points to $338 per metric ton from $337 per metric ton on September 7. While this may not seem like a lot, these gradual increments in potash prices have led to a 26% increase year-over-year from $267 per metric ton a year ago.
In Southeast Asia, potash prices rose ~2.4% to $296 per metric ton from $289 per metric ton a week ago. Year-over-year, potash prices in these locations have increased 10% from $262 per metric ton.
In NOLA, potash prices fell 38 basis points to $240 per metric ton, and in the Cornbelt region of the US, potash prices were flat at $264 per metric ton last week. Year-over-year, prices at both these locations were up by 19% and 15%, respectively.