US Gulf:
The NOLA potash market was quoted at $265-$275/st FOB for the latest business. While some continued to report a low of $260/st FOB, others attributed those levels to upfront rebates, citing new barge business more commonly at the upper end of the range.
Potash was unchanged at $320-$335/st FOB in the Eastern Cornbelt, with the Cincinnati market remaining at $320-$330/st FOB.
Western Cornbelt:
Potash was steady at $315-$330/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.
Northern Plains:
The potash market was unchanged at $325-$335/st FOB and $330-$345/st DEL for the last offers in the Northern Plains. Potash FOB Saskatchewan mines was quoted at the $315-$336/st FOB level, depending on grade.
Northeast:
Potash in the Northeast remained at $325-$335/st FOB for the latest offers, with the low reported at Fairless Hills and the high at East Liverpool. Delivered offers were pegged at the $335/st level in Pennsylvania.
Eastern Canada:
Potash pricing in Eastern Canada continued at C$515-$545/mt FOB, unchanged from last report.
Northwest Europe:
Potash prices in Northwest Europe were flat this week, marking almost two months without significant price movement amid seasonally low demand. New price offers are not expected before the end of August and the summer holiday schedule.
Granular potash in Northwest Europe was unchanged at €330-€350/mt CIF, while standard remained at €315-€330/mt CIF.
Southeast Asia:
Spot deals were few and far between this week, resulting in unchanged prices for both standard and granular potash. Several sources said they expect price increases once demand kickstarts in September, but for the time being this is not reflected in buyers’ appetites. Standard potash was quoted at $275-$290/mt CFR and granular at $330-$340/mt CFR.
Thailand:
January-June potash imports totaled 421,000 mt, Trade Data Monitor reported, a44% increase from the year-ago 294,000 mt. Canada shipped 164,000 mt, Laos sent 109,00 mt, and Belarus added 73,000 mt.
June imports were 49,000 mt, falling from 110,000 mt in June 2023. Imports were pegged at 222,000 mt for the second quarter, rising 12% from the 199,000 mt imported one year earlier.
Brazil:
Brazil potash imports were steady at $290-$305/mt CFR. Potash consumption has reportedly increased, as potassium remains the market’s most affordable macronutrient.
Prices dropped $5/mt at Rondonópolis, players said, to $420-$435/mt FOB amid reports of supply pressure from a strong August import lineup. This decline benefited agricultural producers, who capitalized on the opportunity to purchase material for use in blends, particularly for the second corn crop. The reduction in potash prices improved the barter ratio for growers, optimizing investment for the next crop.