U.S. Gulf:
NOLA potash barges were reported to have dipped to as low as $625-$630/st FOB, with a range for the week reported at $625-$645/st FOB versus the prior week’s flat $645/st FOB level.
Eastern Cornbelt:
The potash market was quoted at $715-$735/st FOB in the Eastern Cornbelt, with the Cincinnati price reported at $715-$720/st FOB. Michigan sources pegged the Toledo market at $750-$755/st FOB, depending on time of shipment.
Western Cornbelt:
Potash was reported at $710-$735/st FOB in the Western Cornbelt, depending on location, with the St. Louis market pegged at $710-$720/st FOB in late August. Pricing FOB Caruthersville was confirmed at the $735/st level at midweek.
Southern Plains:
Potash pricing was reported at $720-$735/st FOB in the Southern Plains, with both the high and low confirmed in Catoosa/Inola, depending on supplier and shipping date. The Houston market remained at a flat $720/st FOB in late August.
The last official potash postings from Intrepid FOB Carlsbad, N.M., remained at $855/st for 60% white granular and $875/st FOB for 62% white standard.
South Central:
The potash market was generally reported at $720-$735/st FOB in the South Central region, although Memphis offers reportedly remained as high as $740-$745/st FOB in late August.
Southeast:
The latest potash offers in the Southeast were steady at $760/st FOB Wilmington, with rail-DEL pricing in the $780-$790/st range.
Belgium:
Tessenderlo Group said first-half MOP supply difficulties had only a limited impact on profitability during the period, as the company had high MOP inventories going into 2022 and it revised its sourcing mix. Previously, the Tessenderlo Kerley Ham plant in Belgium sourced MOP mainly from Russia and Belarus, and to a lesser extent from other sources.
Tessenderlo said it expects a limited impact in the second-half, despite the reduced availability. The company said the increase in energy prices had a negative impact on various activities, but this was somewhat limited by previously concluded forward purchase contracts and increases in company sales prices.
India:
Imports of MOP for January-June 2022 were reported at 1.4 million mt by Trade Data Monitor, down from the 1.6 million mt imported during the first semester of 2021.Second-quarter imports were reported at 740,000 mt, down 8% from the 809,000 mt imported during the same period in 2021.
June 2022 imports were reported at 136,000 mt, down from the 489,000 mt imported during June 2022. The major suppliers in June were Canada with 52,000 mt for 38% of the import market, Jordan with 46,000 mt for 34%, and Israel at 38,000 mt for 28%.
Brazil:
Lack of demand for imported product is keeping the MOP price in Brazil at $800-$860/mt CFR. Sources said the current oversupply situation could lead to price softening.
The impact of oversupply has already hit Rondonopolis. Source report the price has dropped to $870-$900/mt FOB ex-warehouse.