U.S. Gulf:
The potash barge market continued to be called $670-$680/st FOB, though inland prices were reported to be softening a bit.
U.S. Imports:
November MOP imports were noted at 1.31 million st, rising 50.0 percent from 873,490 st in the prior year. July-November totals stood at 5.83 million st, up 12.0 percent from the year-ago 5.21 million st.
July-November imports from Canada totaled 4.93 million st, up 9.3 percent from the year-ago 4.51 million st. Belarus added 413,800 st through the period, a 21.3 percent increase compared to the year-ago 341,100 st. Russia’s 304,500 st was down 3.4 percent from last year’s 315,100 st for the same period.
Eastern Cornbelt:
The potash market was reported at $700-$725/st FOB, down $5-$15/st, depending on location.
Western Cornbelt:
Potash pricing slipped slightly to $700-$720/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa. Sources pegged the St. Paul, Minn., market at $710-$720/st FOB during the week.
Southern Plains:
Potash pricing was pegged at $710/st FOB Houston and $715/st FOB Catoosa/Inola, down from $730-$745/st FOB in mid-December. New potash postings from Intrepid FOB Carlsbad, N.M., firmed in mid-December to $780/st FOB for 60 percent white granular and $800/st FOB for 62 percent white standard, up $105/st from the company’s last reference prices.
South Central:
The potash market was quoted at $710-$725/st FOB regional terminals, down $15-$20/st from mid-December, depending on location, with the low confirmed at Memphis.
Southeast:
Potash pricing was quoted at $730/st FOB Wilmington for Q1 tons, down $20/st from last report, with reports of rail-DEL offers in the $738-$750/st range in the Southeast from Canadian suppliers.
Brazil:
MOP prices in Brazil softened as stockpiles began to build, even as buyers expressed concern over the potential loss of Belarus material later in the year.
Sources reported the portside price at $760-$800/mt CFR, down $10-$20/mt from just a week ago. The softness continued on to Rondonopolis, where sources reported the price at $875-$930/mt FOB ex-warehouse. The inland price showed a drop of $20-$45/mt.
Concern began to grow following Yara’s announcement that it was winding down its potash contracts with Belarus. Right after that, the Lithuanian government announced it was voiding the contract that allowed Belarus potash to transit the country to an export port.The actions are the result of U.S. sanctions that will take effect on April 1.
Imports of MOP in 2021 were up 13.7 percent compared to 2020, according to Trade Data Monitor. The 2021 imports were reported at 12.8 million mt against 11 million mt in 2020.The main suppliers in 2021 were Canada at 4.2 million mt, for 33 percent of the Brazilian MOP import market; Russia at 3.6 million mt, for 28 percent of the market; and Belarus at 2.4 million mt, accounting for 18.7 percent of the MOP import market.
December 2021 imports were up 5.5 percent, to 952,000 mt from December 2020 imports of 902,000 mt.