US Gulf:
NOLA potash barges were stable at $390-$400/st FOB.
Eastern Cornbelt:
Potash prices in the Eastern Cornbelt dropped again, to $440-$480/st FOB from last week’s $475-$500/st range. “Most terminals are caught up on the supply side,” said one regional contact.
Western Cornbelt:
Potash was pegged at $425-$445/st FOB in the Western Cornbelt, down sharply from last week’s $450-$500/st range, with the St. Louis market reported at $430-$440/st FOB during the week.
Southern Plains:
Potash pricing ranged broadly at $450-$510/st FOB in the Southern Plains, with both the high and low confirmed at Catoosa/Inola, depending on supplier, availability, and time of the week. Delivered potash in central Texas was pegged firmly at the $535/st level.
The last potash postings from Intrepid FOB Carlsbad, N.M, included $515/st for 60% white granular and $525/st for 62% white standard.
South Central:
South Central potash pricing was reported in the $485-$500/st FOB range at mid-month, essentially unchanged from last report.
Southeast:
Potash prices were slipping in the Southeast with the arrival of new cargoes. Most port terminal warehouses were at the $460/st FOB level for new business, down from the prior $470-$480/st range.
India:
Arab Potash Co. (APC) has signed a new six-month supply contract with customers in India, according to a May 14 filing with the Amman Stock Exchange. The company did not disclose the volumes agreed.
APC put the contract price at $422/mt CFR, in line with the new price set by Canpotex and Uralkali in early April for tons shipped through Sept. 30, 2023 (GM April 7, p. 14), and duplicated by ICL Group (GM May 5, p. 13). There were reports in April that APC – as well as ICL – had reached a new supply contract with India’s biggest potash importer, IPL (GM April 21, p. 13).
Meanwhile, Fertilizers and Chemicals Travancore Ltd. (FACT) closed a tender on May 15 for the purchase of 30,000 mt of standard potash, for arrival at Tuticorin Port between June 25 and July 10 (GM May 5, p. 14). Offers were requested to remain valid for 15 days from date of tender opening.
Brazil:
Prices continue to fall, and sources now put the potash price at $350-$390/mt CFR. More deals are being done on a formula basis in the expectation of even lower prices to come. Rondonopolis showed a minor shift down, to $490-$500/mt FOB ex-warehouse.
South Korea:
Trade Data Monitor reported January-April potash imports at 196,000 mt, off 12% year-over-year from 233,000 mt. April imports were pegged at 35,000 mt, down from the year-ago 56,000 mt. Israeli potash accounted for 78% of the imports, sending 27,500 mt. Laos supplied the 7,000 mt balance.