Last week, potash prices recorded a strong weekly gain at the four locations discussed below. Potash prices continued to show strength, which increased optimism for companies (NANR) such as Nutrien (NTR), Intrepid Potash (IPI), Israel Chemicals (ICL), and the Mosaic Company (MOS).
Potash prices in Brazil rose the most last week with a rise of 2.3% to $357 per metric ton from $349 per metric ton. In the NOLA (New Orleans) region of the US, potash prices rose by 75 basis points week-over-week to $245 per metric ton from $243 per metric ton. Similarly, in the Cornbelt region of the US, potash prices rose by 33 basis points week-over-week to $272 per metric ton. Saudi East Asia potash prices also rose 67 basis points to $299 per metric ton.
Year-over-year, potash prices in NOLA were up by 21% from $201 per metric ton. In the Cornbelt region, prices were up by 18% from $230 per metric ton. In Brazil, potash prices were up by 28% from $273 per metric ton. In South East Asia, potash prices rose by 13% year-over-year from $263 per metric ton.
Next, we’ll wrap up this series by looking at fertilizer affordability.