U.S. Gulf:
NOLA potash barges continued to be called $775-$820/st FOB.
U.S. Imports:
MOP imports for February moved down 13.5 percent, to 1.06 million st from 1.23 million st in February 2021. Imports totaled 8.96 million st in the July-February period, however, lifting 1.0 percent from the prior year’s 8.88 million st.
July-February imports loading from Canada totaled 7.45 million st, followed by Russia at 596,559 st and Belarus at 565,355 st.
Eastern Cornbelt:
Potash pricing in the Eastern Cornbelt was reported at $800-$820/st FOB during the week, depending on location, with the Cincinnati market quoted at the $815/st FOB level.
Western Cornbelt:
Potash pricing remained 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.
Northern Plains:
Sources quoted potash pricing at $800-$820/st FOB St. Paul at mid-month. The latest prices FOB Saskatchewan mines for 2Q tons were reported at $728-$740/st after netbacks, depending on grade and destination. No current delivered potash prices were confirmed in the Northern Plains.
Northeast:
Potash pricing was pegged at $800/st FOB Baltimore, $805/st FOB East Liverpool, and up to $900/st FOB Fairless Hills for April-June tons.
Eastern Canada:
Potash pricing in Eastern Canada firmed to a broad C$1,050-$1,108/mt FOB range for 2Q shipment, depending on grade and location, up from the last reported C$1,040-$1,056/mt FOB level.
India:
RCF closes a tender for 105,000 mt of white/pink standard potash on April 26, having earlier extended the closing to April 19 (GM April 15, p. 15; April 8, p. 15). RCF was reported not to have received a single offer into its tender as of the earlier close.
National Fertilizers Ltd. (NFL) is also closing its Request for Proposals (RFP) on April 26 for entering into a long-term agreement/MOU with producers for the supply of potash during FY2022/23. The deadline was extended from April 11. NFL is looking for firm quantities of 200,000 mt of standard pink/red potash.
Bangladesh:
The Ministry of Agriculture is understood to have closed a tender this week for around 250,000 mt of standard potash for delivery in the first weeks of the country’s new fiscal year, which begins on July 1.
China:
January-March imports of MOP were reported at 2.1 million mt, down from the 2.6 million mt imported during the same period last year, according to Trade Data Monitor.
March imports totaled 642,000 mt, about 43 percent lower than the March 2021 imports of 1.1 million mt. Belarus, Russia, and Canada remain the main suppliers for China, with Belarus supplying almost half of the MOP received in March. Laos jumped dramatically in its influence in China, with March 2022 imports reported at 70,000 mt, accounting for 11 percent of all MOP imports. In March 2021, Laos only supplied 3 percent of MOP imports.
South Korea:
January-March imports of MOP were reported at 81,000 mt by Trade Data Monitor, down from the 189,000 mt imported during the first quarter of 2021.
March imports of 79,000 mt were up 84 percent from March 2021 imports of 43,000 mt. Israel supplied 56 percent of the March imports at 44,000 mt, followed by Canada at 27,000 mt, for 34 percent of imports.
Brazil:
Prices of MOP softened marginally to $1,150-$1,250/mt CFR. Sources said the presence of Israeli product pushed the lower end of the range down.
Sources said there is limited talk about buying plans for the second half of the year. Buyers are concerned that the tons they want and need may not be available because of the sanctions against Russia and Belarus. Even with some tons still in the supply pipeline, sources said few regional buyers see Russia as a reliable source of MOP for the rest of the year.
Rondonopolis pricing was steady at $1,300-$1,360/mt FOB ex-warehouse. Buying is limited to just what is needed for immediate delivery.