U.S. Gulf:
NOLA potash barge trades were quoted in the $575-$600/st FOB range, up from $550-$580/st FOB. Some players saw the new business as simply speculation that the market will continue to go higher, and feared that upriver buyers will not bite at higher prices.
Eastern Cornbelt:
Potash prices remained in the $600-$610/st FOB range for prompt tons in the Eastern Cornbelt, with the low reported in Illinois and the high out of spot Ohio River warehouses. The low remained at the $570/st FOB level for 4Q offers from Nutrien, although the company confirmed in late August that it is fully allocated through November.
Western Cornbelt:
Sources continued to quote the potash market in a broad range at $570-$600/st FOB in the Western Cornbelt, depending on location, supplier, and time of shipment, with the upper end confirmed at Camanche for August-September tons. The St. Louis market remained at $585-$595/st FOB range for prompt tons in early September, with pricing at St. Paul, Minn., confirmed at the $590-$600/st FOB level.
California:
Potash pricing in California remained at a firm $695-$705/st FOB for Q4 shipment, with the low for 60 percent and the high for 62 percent MOP.
Pacific Northwest:
The potash market remained at a firm $642-$652/st FOB warehouses in Washington, Oregon, and northern Idaho for Q4 shipment, with the low for 60 percent and the high for 62 percent MOP. The last posted prices from Intrepid FOB Moab and Wendover, Utah, included $620/st for 60 percent white granular and $615/st for 60 percent white standard.
Western Canada:
The potash market in Western Canada remained at a firm C$755-$765/mt FOB Saskatchewan mines for Q4 truck tons.
India:
RCF closed a tender on Aug. 27 for the supply of 105,000 mt of white/pink standard potash for delivery to Hay Bunder in three lots of 35,000 mt, with the first shipment to arrive on or before Oct. 15, the second on or before Nov. 15, and the third lot by Dec. 21.
Indonesia:
Sources reported that PT Pupuk Indonesia is set to award up to 250,000 mt of standard potash to various international suppliers, including Belarus Potash Co. and Uralkali, at around $550/mt CFR under a recent tender. This price could not be confirmed with either buyer or awardees by press time, however.
Deliveries are to take place from September 2021 through March 2022.
Thailand:
January-July MOP imports were up 45 percent, according to Trade Data Monitor, to 496,000 mt from 412,000 mt during the same period in 2020. Canada supplied 210,000 mt this year, followed by Belarus at 191,000 mt and Israel at 62,000 mt.
July 2021 imports were reported at 82,000 mt, down from the 86,000 mt imported in July 2020. Belarus supplied 36,000 mt, followed by Israel at 21,000 mt and Canada at 16,000 mt.
Brazil:
The price for MOP moved up at Paranagua to $700-$750/mt CFR. Sources said demand remains strong, not only from buyers at the ports but also from inland customers. The backlog of ships with MOP in their holds waiting to dock, plus reports of truck shortages to move the product inland, is keeping upward pressure on pricing.
The Rondonopolis MOP price moved up to $810-$920/mt FOB ex-warehouse. The steady rise in prices has some buyers concerned. Sources reported some are considering going to the national government to limit how far and how fast prices can rise.
The barter rate for 1 mt of MOP at Sorriso is now pegged at 42 bags of soy or 100 bags of corn.