U.S. Gulf:
NOLA potash barges were called $775-$820/st FOB for the latest trades, though sources speculated that higher numbers were possible for exports.
Eastern Cornbelt:
Potash pricing in the Eastern Cornbelt was reported at $800-$825/st FOB during the week, depending on location, with the Cincinnati market quoted at the $815/st FOB level.
Western Cornbelt:
Potash pricing was quoted at $800-$825/st FOB in the Western Cornbelt, depending in location, with the St. Louis market pegged in the $810-$825/st FOB range for new spring offers.
California:
The potash market was steady at $875-$895/st FOB in California for 2Q tons, with the low reported for 60 percent MOP and the high for 62 percent.
Pacific Northwest:
Potash pricing in the Pacific Northwest remained at a firm $880/st FOB or DEL for 60 percent MOP and $900/st FOB or DEL for 62 percent MOP. Intrepid announced a $50/st increase on April 1, with new mine postings FOB Moab and Wendover, Utah, firming to $850/st for 60 percent white standard and $855/st for 60 percent white granular.
Western Canada:
Western Canada sources quoted truck pricing for potash in the C$1,010-$1,015/mt range FOB Saskatchewan mines, depending on grade, up from a low of C$990/mt at last report.
India:
National Fertilizers Ltd. (NFL) on April 11 once again extended the closing date of its Request for Proposals (RFP) for a long-term agreement/MOU with potash producers for the supply of potash during FY22/23 (GM April 8, p. 15). The RFP, first issued on Feb. 17 (GM Feb. 18, p. 15), originally had been due to close on March 21.
The buyer is looking for firm quantities of 200,000 mt of standard pink/red potash.Like NFL, RCF has also extended the closing date of its tender for 105,000 mt of white/pink standard potash from April 11 to April 19 (GM April 8, p. 15).
Sources reported that RCF had not received a single offer as of the original closing date, likely reflecting the lack of available supply. The buyer was looking for the required tons to be delivered to MBPT HB in three 35,000 mt lots in April, May, and June.
RCF first called a tender for the required volumes at the start of this year, but subsequently re-issued the tender more than once.
Indonesia:
Sources reported that PT Pupuk Indonesia has made awards at around the $950/mt CFR level for some of the 300,000-400,000 mt standard potash requirement under its recent tender (GM April 8, p. 15).
Details are sketchy on the suppliers and volumes awarded, however. The buyer had been looking for the tons to be shipped starting in the current quarter to the end of 2022.
Brazil:
The price range for potash in Brazil tightened to $1,200-$1,250/mt CFR. The price rise came as concerns grew over replacing material that could be lost due to sanctions against Russia and Belarus. Potash from these two countries represented about 57 percent of March 2022 imports, according to Trade Data Monitor, for a total tonnage of 500,000 mt.
The Rondonopolis price tightened to $1,300-$1,360/mt FOB ex-warehouse.
Imports for the first quarter of the year came in at 2.5 million mt, according to Trade Data Monitor, reflecting a negligible difference from last year. Canada topped the sales into Brazil with 719,000 mt, followed by Russia with 659,000 mt, Belarus with 613,000 mt, and Germany with 203,000 mt.
March 2022 imports were reported at 880,000 mt, up 16 percent from March 2021 imports of 755,000 mt.
Concern remains among buyers about how supplies will be affected as the last of the pre-sanction cargoes from Russia and Belarus dock and unload their product.