U.S. Gulf:
NOLA potash barges were called $735-$745/st FOB, down from the week-ago $740-$770/st FOB.
Nutrien on July 8 reconfirmed current potash prices at $770/st FOB NOLA and $800/st FOB at their Midwest terminals. The company said these prices “are some of the lowest potash prices in the world and represent a significant discount to values that are currently traded in markets like Brazil.”
Eastern Cornbelt:
Potash remained at $770-$785/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $775-$785/st FOB during the week. No potash fill offers were circulating in early July.
Western Cornbelt:
Potash pricing remained at $765-$780/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis.
California:
Potash reference pricing in California was reported at $875-$925/st FOB for 60% MOP and $895-$945/st FOB for 62%.
Pacific Northwest:
Potash pricing was pegged at $855-$880/st FOB and $855-$900/st DEL in the Pacific Northwest, depending on grade and location. The last reference prices from Intrepid FOB Moab and Wendover, Utah, included $850/st for 60% white standard and $855/st for 60% white granular.
Western Canada:
Sources quoted truck pricing for potash in a wide C$1,000-$1,080/mt range FOB Saskatchewan mines, depending on grade and supplier. No potash fill offers were reportedly circulating in early July.
Thailand:
January-May imports of MOP were reported at 411,000 mt by Trade Data Monitor. This is down 6.8% from the 440,000 mt imported during the same period in 2021.
May 2022 imports were reported at 157,000 mt, the same as June 2021. Canada accounted for 45% of the import market with 71,000 mt, followed by Germany with 38,000 mt for 24%, and Israel with 27,000 mt for 17% of MOP imports.
Brazil:
The market tightened downward to $1,000-$1,050/mt CFR as sellers looked to push excess material out of their warehouses.
Rondonópolis also tightened to $1,080-$1,170/mt FOB ex-warehouse. Sources said suppliers throughout the country are looking to move out excess material and are willing to lower prices to move product.
Imports for the first half of the year were reported at 6.9 million mt by Trade Data Monitor. This represented a jump of 37% from the 5 million mt imported during the first semester of 2021. Canadian, Russian, German, and Israeli suppliers all experienced an increase in sales this year. Only Belarus showed a drop, sending 950,000 mt to Brazil in 2022, down from 1.1 million mt in the first six months of 2021.
Second-quarter 2022 imports were reported at 4.3 million mt, an increase of about 74% from the 2.5 million mt imported during the same period in 2021.
June 2022 imports were reported at 1.6 million mt, up from the 994,000 mt imported in June 2021. Canada accounted for 45% of the imports with 717,000 mt. Russia came in with another 414,000 mt to cover 26% of the import market.