US Gulf:
The NOLA potash market remained at $290-$300/st FOB based on the latest trades, unchanged from last week. While several industry contacts said $285/st FOB deals could readily be had, no actual barge business was confirmed at that level during the week, while others speculated that the lower numbers involved upfront rebates.
Potash remained at $340-$360/st FOB in the Eastern Cornbelt, with the low reported on the Illinois River. The Cincinnati market was steady at $350-$355/st FOB in mid-June. Sources reported no fill program offers from producers during the week.
Western Cornbelt:
Potash was flat at $340-$360/st FOB in the Western Cornbelt, with the low reported at St. Louis and the high in Iowa.
California:
Potash was steady at $525-$548/st FOB or DEL in California for the last offers.
Pacific Northwest:
Potash was unchanged at $490-$503/st FOB or DEL in the Pacific Northwest, with the high reflecting reference pricing for 62% MOP and the low for 60%. Potash postings from Intrepid FOB Moab and Wendover, Utah, remained at $455/st FOB for 60% white standard and $460/st for 60% white granular.
Western Canada:
Truck pricing for potash at the mine in Western Canada remained at C$540-$545/mt FOB for 2Q shipments, depending on grade.
Northwest Europe:
Potash prices in Northwest Europe declined slightly for both granular and standard product this week amid sluggish demand. No new-season prices were forthcoming but discussions are underway, with ample supply fueling bearish expectations. Granular potash in Northwest Europe was quoted at €330-€350/mt CIF, while standard potash was reported at €315-€330/mt CIF.
Southeast Asia:
Standard potash prices in the region were flat at $280-$300/mt CFR, as market participants were once again left without price direction from the long-awaited India contract settlement. The new annual contract has reportedly been postponed until a new government is installed following the recent national elections in India.
Granular potash prices were also flat at $335-$355/mt CFR. Further details were reported on the recent Indonesian tender for 250,000 mt, with the award split between two Russian, one Belarusian, and one Jordanian company.
Brazil:
Potash imports continued at the week-ago $305-$315/mt CFR level, with players describing a sense of stability in the market. May imports to Brazil were up compared to the same period in 2023.
The inland market’s price stability seen in recent weeks has continued to present a favorable barter ratio compared to other products. Rondonópolis prices firmed to $420-$450/mt FOB, up $5/mt from the week-ago $445/mt FOB high.
Brazil imported 5.4 million mt of potash in January-May, according to Trade Data Monitor, a 13% decline from the year-ago 5.8 million mt. Russia sent 1.9 million mt, Canada shipped 1.8 million mt, and Uzbekistan added 702,000 mt. May imports were 1.6 million mt, up 30% from 1.3 million mt in May 2023.