We looked at DAP (diammonium phosphate) prices in the previous part of this series. MAP (monoammonium phosphate) prices also struggled to find positive direction last week, which ended October 12, at Brazil and NOLA (New Orleans). The pause in Brazil may be temporary since the region remains strong in agribusiness for companies (MXI) such as Mosaic (MOS), Nutrien (NTR), and CF Industries (CF).
MAP prices in Brazil remained unchanged week-over-week at $458 per metric ton. While there was no movement in prices for Brazil, they’ve stayed at peak levels since January 2016.
In contrast, MAP prices in NOLA (New Orleans) declined 23 basis points week-over-week to $430 per metric ton, from $431 per metric ton. Prices continued to decline from the peak of $432 per metric ton for the week ended September 21.
Year-over-year, MAP prices remained strong at NOLA and Brazil. In NOLA, prices rose 32% week-over-week, from $326 per metric ton. In Brazil, prices rose 26%, from $363 per metric ton in the corresponding week in 2017.
Next, let’s take a look at potash prices last week.