U.S. Gulf:
While some sellers continued to test the $670-$675/st FOB range with no success, by later in the week $640-$645/st FOB was on the table. Inland prices, which have been drifting lower despite a slow but stable NOLA market, continued to move down $5-$10/st FOB at river terminals.
Eastern Cornbelt:
The potash market had reportedly slipped to $690-$710/st FOB in the region, down $10/st from last report. A broad range of pricing was reported in Michigan, from a low of sub-$700/st to a high of $760/st FOB, depending on location.
Western Cornbelt:
Potash pricing dropped to $690-$710/st FOB in the Western Cornbelt in late January, with the low reported at St. Louis.
Northern Plains:
The potash market FOB St. Paul was quoted at $705-$720/st FOB for 1Q tons. The last prices FOB Saskatchewan mines were reported at $680-$695/st FOB after netbacks, depending on grade and destination
Northeast:
Potash pricing was pegged at $720-$750/st FOB in the Northeast for 1Q tons, with the upper end reported at Lancaster for the last offers.
Eastern Canada:
Potash pricing for 1Q remained at C$990-$1,030/mt FOB regional warehouses in Eastern Canada, steady from last report.
Canpotex reported that it is fully committed on volumes for potash sales through March 31, 2022. This is due to continued strong demand and solid fundamentals for agricultural commodities in key offshore markets, the Canadian potash export joint venture said in a Jan. 26 statement.
India:
As previously reported,RCF closed a tender on Jan. 28 for the supply of 170,000 mt of bulk potash in four shipments in February and March (GM Jan. 21, p. 15).
Brazil:
The landed price for MOP in Brazil came down a bit to $750-$805/mt CFR, despite nervousness about possibly not being able to import Belarus potash after April 1 due to U.S. government sanctions, and a report from Canpotex that it is sold out through March.
Reportedly, companies holding material have been aggressive in trying to sell their product to ease a current tight storage situation.
The range in Rondonopolis widened as some buyers took advantage of deals and some sellers took advantage of pocket shortages. Sources put the price at $855-$930/mt FOB ex-warehouse.
Thailand:
MOP imports for 2021 were reported at 963,000 mt by Trade Data Monitor, up 29 percent from 2020 imports of 746,000 mt.
The main supplier was Canada with 370,000 mt, taking 38 percent of the MOP import market. Belarus sold 307,000 mt for 32 percent of the market. This number is higher than in 2020, when Belarus sold 193,000 mt and controlled 26 percent of the market. Israel rounded out the top three sellers with 99,000 mt, for 10 percent of the 2021 MOP import market.
December 2021 imports were up 14 percent, to 65,000 mt from 56,000 mt in December 2020.