US Gulf:
NOLA potash barge prices continued to drift lower, falling to $490-$500/st FOB from the week-ago $500-$510/st FOB. Buyers were reported to be eyeing $470/st FOB for the next round of business.
Eastern Cornbelt:
The potash market slipped to $585-$595/st FOB in the Eastern Cornbelt, down from the previous $610-$630/st FOB range, with both the high and low confirmed at Cincinnati. Pricing out of Michigan warehouses fell to $615-$620/st FOB for new offers.
Western Cornbelt:
Potash prices slipped to the $585-$610/st FOB range in the region, with the low confirmed at St. Louis. The Iowa terminal market fell in the $595-$610/st FOB range during the week.
Northern Plains:
Sources quoted potash pricing at $590-$610/st FOB St. Paul, down from the previous $610-$620/st FOB level. The latest prices FOB Saskatchewan mines, based on current exchange rates, were reported at $622-$638/st, depending on grade and destination.
Northeast:
New potash offers in the Northeast dropped to $635/st FOB East Liverpool and $640/st FOB Fairless Hills, down from $650-$655/st FOB at last report. Delivered potash in central Pennsylvania was pegged at the $650/st level in early December.
Eastern Canada:
The potash market in Eastern Canada was pegged in a wide range at C$1,040-$1,110/mt FOB warehouses. “We are waiting for a potash program for spring tons that should be out soon,” said one regional contact.
India:
Port reports showed vessels carrying 117,000 mt as scheduled to unload through Dec. 18.
Brazil:
The landed price moved up to $520-$540/mt CFR. Sources said they expect the price to correct downward, despite both reduced production announced by Mosaic and new export duties enacted by the Russian government.
The Rondonopolis price tightened to $660-$680/mt FOB ex-warehouse. Sources said the move is a minor adjustment in light of reports that supplies remain plentiful.
Imports of potash for January-November were reported at 11.3 million mt by Trade Data Monitor, offfrom12 million mt noted through the same period in 2021. The market’s primary suppliers were Canada with 4.4 million mt and Russia with 3 million mt, while Germany, Israel, and Belarus added about 1 million mt each.
November potash imports were reported at 457,000 mt, down dramatically from the 1.4 million mt imported in November 2021. Russia’s 181,000 mt amounted to 40% of the import market, while 130,000 mt from Canada represented 28% of the market. Germany sent 122,000 mt.
Bangladesh:
The Cabinet Committee late last month approved a proposal to import 50,000 mt of standard potash from Canadian government-controlled Canadian Commercial Corp. worth BDT4.14 billion (approximately $39.6 million at current exchange rates) by the Agriculture Ministry, according to a report by Bangladesh’s Daily Star.