Potash

U.S. Gulf: The potash range broadened last week to $367-$378/st FOB. Sources were divided, with some saying product was still available sub-$370/st, and others saying no.

Eastern Cornbelt: The potash market had firmed to the $410-$417/st range FOB regional warehouses in the Eastern Cornbelt, depending on grade, with inventories continuing to be described as tight.

Western Cornbelt: Sources quoted the potash market solidly in the $410-$417/st FOB range out of warehouses in the Western Cornbelt, with the low for red and the upper end for white granular tons. “Potash supplies are still snug in my opinion,” said one regional contact. “I don’t know of anyone that has all they want to start fall, but it is slowly arriving.”

Southern Plains: Potash pricing out of regional warehouses in the Southern Plains was quoted at a firm $400-$405/st FOB, up $10/st from last report. Reference prices FOB Carlsbad, N.M., included $385/st for 60 percent standard, $390/st for 60 percent granular and 62 percent standard, and $397/st for 62 percent granular and 62 percent Super Sol.

Sulfate of potash magnesia remained at $365-$380/st FOB Carlsbad, depending on grade.

South Central: Potash pricing had reportedly firmed to $400-$410/st FOB warehouses in the South Central region, with the low at Memphis. Sources reported little demand, but acknowledged tight potash supplies in the region. “I hope we don’t see another winter/spring like last year, as we will have shortages,” said one contact.

Southeast: The potash market had reportedly firmed to $410/st rail-DEL in the Southeast for new sales, but tons were limited.

Bangladesh: Belarusian Potash Co. (BPC) has signed a $40 million contract to supply potash to Bangladeshi state-run BADC, according to Belta, the Belarusian News Agency. BPC said it plans to start by sending two in October, with the possible delivery of about 120,000 mt. BPC officials said it already has another contract to ship 120,000 mt to the private sector.

Sri Lanka: The Agriculture Ministry closed a tender last week for 24,000 mt of MOP.

Offers were presented with a variety of financial options. Sources speculate that the most likely acceptable price will be the one with 80 days credit. If that is the case, the most likely winner in the tender will be Agricultural Resources at $344.35/mt CFR 180 days.

Only four companies participated in the tender. The tally follows.