US Gulf:
NOLA potash barges continued to be called $565-$575/st FOB.
Eastern Cornbelt:
Potash pricing continued to fall in the $670-$690/st FOB range in the Eastern Cornbelt, with the upper end out of inland warehouses. The Cincinnati potash market was pegged at the $675/st FOB level at mid-month.
Western Cornbelt:
Potash pricing was steady at $660-$700/st FOB in the Western Cornbelt, with the high confirmed in Iowa on a spot basis. The St. Louis potash market was reported in the $660-$675/st FOB range at mid-month.
California:
The potash market in California was reported at $870-$890/st FOB, depending on grade and location, with delivered tons pegged at $875-$895/st.
Pacific Northwest:
Potash was unchanged at $845-$865/st FOB in the Pacific Northwest, with the low for 60% and the high for 62% MOP. The last reference prices from Intrepid FOB Moab and Wendover, Utah, included $850/st for 60 percent white standard and $855/st for 60 percent white granular.
Western Canada:
Sources in Western Canada quoted potash pricing at C$990-$1,020/mt FOB Saskatchewan mines for truck tons, depending on grade and supplier.
Brazil:
Despite efforts by sellers, the price of MOP in Brazil keeps falling. Sources reported new deals at $600-$620/mt CFR. There are reports as well of new bids coming in as low as $575/mt CFR, but with no confirmation that any deals were done at that level.
Buyers are said to be in no rush to buy more MOP, as supplies are plentiful and warehouses remain full. Buyers who are offering low bids appear to be looking to take advantage of the lack of demand and high stockpiles to secure ever-cheaper product. If sellers reject the bids, buyers can afford to sit back and wait.
The Rondonopolis price shifted to $740-$810/mt FOB ex-warehouse. The lack of demand inland is providing a steady downward pressure on prices, with sellers only occasionally able to secure a deal that does not involve a price drop.
India:
Imports of MOP for January-August 2022 were reported at 1.9 million mt by Trade Data Monitor, down 16% from the 2.2 million mt imported during the same period in 2021. The main suppliers were Canada with 630,000 mt, Israel with 430,000 mt, Belarus with 384,000 mt, and Jordan with 317,000 mt.
August 2022 imports were reported at 188,000 mt, down from the 22,000 mt imported during August 2021. Canadian potash accounted for 47% of the imports with 89,000 mt. Israel was second with 64,000 mt for 34% of the market, and Jordan placed third with 35,000 mt for 19% of the MOP imports.
South Korea:
January-September 2022 imports of MOP were reported at 566,000 mt by Trade Data Monitor, down slightly from the 572,000 mt imported during the same period in 2021. Canada dominated the import market, supplying 412,000 mt, with Israel supplying another 95,000 mt.
Third-quarter 2022 imports were reported at 197,000 mt, up from the 182,00 mt imported during the same period last year.September 2022 imports were reported at 72,000 mt, more than double the September 2021 imports of 33,000 mt.