US Gulf:
The NOLA potash market remained at $265-$275/st FOB for the latest business, unchanged from last week.
Potash was steady at $315-$335/st FOB in the Eastern Cornbelt, with the Cincinnati and Ottawa markets pegged at the $320-$325/st FOB level in mid-September.
Western Cornbelt:
Potash was unchanged at $315-$330/st FOB in the Western Cornbelt.
Southern Plains:
Potash was reported at $320-$325/st FOB regional warehouses in the Southern Plains in mid-September. The latest potash reference prices from Intrepid FOB Carlsbad, N.M., included $405/st for 60% white granular and $413/st for 62% white standard.
South Central:
Warehouse potash prices in the South Central region were flat at $315-$325/st FOB, depending on location.
Southeast:
Potash pricing was unchanged at $305-$315/st FOB Wilmington, N.C., for the latest offers.
Northwest Europe:
Potash prices in Northwest Europe were once again stable this week on limited end-user activity. There are reports of importers gearing up for the October/November buying season by contracting new deepwater shipments, however.
With no further information on prices, both granular and standard potash remained unchanged at €330-€350/mt CIF and €305-€330/mt CIF, respectively.
Southeast Asia:
There were no updates on Pupuk Indonesia’s standard potash import tender, which many believe was scrapped due to a high price level of $303-$304/mt CFR. There are several smaller tenders by palm oil plantations underway in the region, but no outcomes were reported, leaving standard potash unchanged at $280-$290/mt CFR.
Granular prices were also stable at $330-$340/mt CFR, with sources noting that the bulk of business is being conducted at the higher end of the range. In India, Indian Potash Ltd. (IPL) settled with Russian producer Uralkali for 600,000 mt of potash through the end of 2024 at a price of $283/mt CFR, in line with other major producers such as Canpotex and ICL.
Brazil:
Brazil potash prices softened to a flat $285/mt CFR. While some sellers continue to hold offers at $290/mt CFR, no transactions were reported at that level.
Inland prices firmed $10/mt at the lower end, to $420-$430/mt FOB Rondonópolis from $410-$430/mt FOB at last report. Sources reported delivery challenges, noting concerns about receiving product in time for the start of summer planting.
The September import forecast was reported around 900,000 mt, on par with the historical average.