US Gulf:
NOLA barge prices continued to weaken, with the new range put at $360-$370/st FOB, down from the week-ago $370-$375/st FOB.
Eastern Cornbelt:
Potash was quoted at $430-$465/st FOB in the Eastern Cornbelt in early March, with the low reported on the Illinois River. The Cincinnati potash market remained at the $445-$465/st FOB level during the week.
Western Cornbelt:
Potash terminal pricing remained under pressure in the Cornbelt, with new offers reported at $420/st FOB St. Louis, down from last week’s $425-$430/st range. The upper end of the regional market remained at $465/st FOB out of inland warehouses.
California:
Potash pricing firmed to $615-$645/st FOB in California for new business, although the last actual potash sales were reportedly concluded at $585-$615/st FOB for earlier fill offers, depending on grade and location.
Pacific Northwest:
The last confirmed potash business in the Pacific Northwest was reported at $560-$570/st FOB and $552-$562/st rail-DEL for January fill. Post-fill pricing reportedly moved up $40/st, to $600-$610/st FOB, although these levels remain untested.
Western Canada:
The latest potash prices in Western Canada were unchanged at C$715-$735/mt FOB Saskatchewan mines for truck tons, depending on grade.
India:
Market talk suggested that a settlement for a new annual supply contract is imminent. IPL, the country’s biggest potash importer, has historically been the front-runner to agree to the new price.
January potash imports were counted at 114,000 mt, the DoF reported, off from the year-ago 340,000 mt.
Trade Data Monitor reported 2022 imports at 2.7 million mt, down 15% from 3.2 million mt in 2021. Canada, Israel, and Jordan provided about 80% of India’s imports for the year, combining for roughly 2.2 million mt. Belarus followed with 384,000 mt, for about 14% of the market. First-half 2022 imports were counted at 1.3 million mt, followed by 1.4 million mt in July-December.
December imports were 139,000 mt, off 29% from the prior-year 194,000 mt.
Brazil:
The potash market was quiet from port to inland distributor. Sources reported a steady $470-$490/mt CFR at the ports, and $600-$625/mt FOB ex-warehouse in Rondonopolis. Potash from sanctioned companies was reportedly offered at $450/mt CFR, pressuring prices from other suppliers.