Last week, which ended October 12, potash prices were broadly flat to positive in the four locations we’ll look at below. That was unlike phosphate fertilizers that saw an overall weakness. So while the phosphate segments for companies (MOO) such as Nutrien (NTR), Isreal Chemicals (ICL), and Mosaic (MOS) were weak, their potash segments had stronger fundamentals.
Last week, granular potash prices in NOLA (New Orleans) rose 2.6% to $251 per metric ton, from $245 per metric ton in the week ended October 5. In the US Cornbelt, prices for granular MOP (muriate of potash) increased 1% to $275 per metric ton week-over-week, from $272 per metric ton. Prices in Brazil were flat at $357 per metric ton. Prices in Southeast Asia were also flat week-over-week at $299 per metric ton.
Potash prices were also strong year-over-year. NOLA prices rose 24%, and the Cornbelt rose 18%. In Brazil, prices were up 30% year-over-year, and in Southeast Asia, they rose 13%.
In the next and final part of this series, we’ll look at fertilizer affordability.