Last week, MAP (monoammonium phosphate) prices were flat in the Brazil and NOLA (New Orleans) regions. MAP prices just like DAP (diammonium phosphate) prices have been rising so far this year. However, recently, the momentum has slowed down, adding some uncertainty for companies (MOO) such as Mosaic (MOS), Nutrien (NTR), and Israel Chemicals (ICL).
The MAP prices in the Brazil region were flat at $458 per metric ton. Similarly, MAP prices in the NOLA region were also flat at $431 per metric ton week-over-week. MAP prices struggled to find direction last week but remained close to their peak levels at both the locations since the beginning of January 2016. While last week remained muted for MAP prices, year-over-year, they were at a much stronger level compared to a year ago, as we discuss below.
Year-over-year, MAP prices were also significantly higher than DAP prices were. MAP prices in Brazil were up by as much as 27%, while MAP prices in NOLA were up by ~3% year-over-year.
In the next part, we’ll discuss prices for potash fertilizers followed by fertilizer affordability.