US Gulf:
The NOLA potash barge market was quiet ahead of the holidays at $480-$490/st FOB.
US Imports:
Imports of potash fell 31.7% for October, to 835,777 st from the year-ago 1.22 million st. July-October totals stood at 3.85 million st, off 14.7% from 4.52 million st.
July-October imports originating from Canada stood at 3.37 million st. Russia added 345,760 st, ahead of 105,984 st from Israel.
US Exports:
Exports moved down 17.0% in July-October, to 1.23 million st from the year-ago 1.48 million st. Cargoes were noted at 231,852 st for October, off 36.5% compared to 365,350 st posted one year earlier.
Eastern Cornbelt:
The potash market remained at $540-$560/st FOB in the Eastern Cornbelt, with the low confirmed for producer fill offers launched in mid-December.
Western Cornbelt:
Potash was steady at $540-$550/st FOB for fill and prompt offers in the Western Cornbelt.
California:
Potash fill pricing in California was down significantly from the last prompt business. The market was confirmed at $603-$649/st FOB in the state, depending on grade and location, with the low at Plymouth and the high at Modesto. Rail-DEL fill tons were pegged at the $688/st level.
Pacific Northwest:
Fill offers for potash were reported at $588-$600/st FOB in Washington and Oregon, well below the last $815-$865/st FOB prompt levels, with the low confirmed for 60% MOP and the high for 62% MOP. Delivered potash fill pricing was pegged at $600-$608/st in Washington.
Western Canada:
Fill prices for potash reportedly dropped to a low of C$815-$830/mt FOB Saskatchewan mines, while reference pricing for prompt tons from some producers was still holding at the C$920/mt FOB level in late December.
Brazil:
Prices for MOP softened to $480-$520/mt CFR. Sources said only buyers looking for large tons and prompt delivery were afforded the lower price. Some sellers are reportedly backing off from active trading because they have filled their January order books.
The Rondonopolis range expanded as sellers anticipate higher prices in early 2023, while buyers are pushing for deals. Sources put the price at $650-$690/mt FOB ex-warehouse.
South Korea:
January-November MOP imports stood at 622,000 mt, according to Trade Data Monitor, down13% year-over-year from 718,000 mt. Canada was the main supplier with 464,000 mt, followed by Israel with 95,000 mt.
November imports were reported at 34,000 mt, falling about 40% from 58,000 mt noted for November 2021. Canada accounted for 94% of the material with 32,000 mt.
China:
MOP imports for January-November were reported at 7.4 million mt, Trade Data Monitor reported, unchanged from the year-ago period. Canada topped the list of suppliers with 2.3 million mt, followed by Belarus with 1.8 million mt and 1.6 million mt from Russia.
November imports were recorded at 639,000 mt, down slightly from 694,000 mt received in November 2021. Canadian product accounted for 57% of the November market at 367,000 mt, followed by Belarus with 183,000 mt.
India:
Indian Fertilizers Ltd. (NFL) closed a request for proposal (RFP) on Dec. 22 for entering into a long-term agreement (MOU) with potash producers for 250,000 mt firm of standard pink/red/white potash. The tons were to be shipped over a 12-month period from the date of contract signing, or a mutually-agreed timeline (GM Dec. 16, p. 14; Dec. 2, p. 16 ).