In the week ending September 28, granular potash prices were broadly higher, while standard potash prices were flat week-over-week. Potash prices have been strong in 2018. Last week, potash prices made new highs. Higher prices are positive for companies (NANR) like Mosaic (MOS), Nutrien (NTR), Israel Chemicals (ICL), and Intrepid Potash (IPI).
Last week, the granular potash prices in the Cornbelt region of the US rose as much as 2.4% week-over-week to $271 per metric ton from $265 per metric ton in the week ending September 21. In NOLA (New Orleans), the prices rose as much as 1.13% week-over-week to $243 per metric ton from $240 per metric ton. The prices in Brazil rose by 87 basis points week-over-week to $349 per metric ton.
In contrast to the movements at these three locations, the standard potash prices in South East Asia were flat week-over-week at $297 per metric ton.
Looking at the YoY (year-over-year) movements, the granular urea prices in Brazil rose 28% followed by 20% in NOLA and 17% in the Cornbelt region of the US. The standard potash prices in South East Asia have risen as much as 21% YoY.
Next, we’ll discuss fertilizer affordability.