In the week ending October 19, MAP (monoammonium phosphate) prices remained muted week-over-week at the two locations discussed below. Among the NPK (nitrogen, phosphorous, and potassium) fertilizers, phosphate fertilizers appear to be experiencing a slowdown, which might be something to watch for companies (MOO) like Mosaic (MOS), Nutrien (NTR), and Israel Chemicals (ICL).
Last week, the MAP prices in the NOLA (New Orleans) region of the US were flat week-over-week at $430 per metric ton. The MAP prices in the Brazil region declined by 22 basis points week-over-week to $457 per metric ton from $458 per metric ton. In the above chart, you can see that the MAP prices appear to be cooling off after reaching a peak earlier this month at $432 per metric ton in NOLA and $458 per metric ton in Brazil.
However, the MAP prices continued to remain strong in NOLA and Brazil YoY (year-over-year). The MAP prices in NOLA rose as much as 32% from $326 per metric ton in the same week in 2017. The MAP prices in Brazil rose as much as 26% YoY from $363 per metric ton in the week ending October 19.
Next, we’ll discuss how potash prices moved last week.