U.S. Gulf:
New potash barge trades were put in the $310-$318/st FOB range, down from the week-ago $315-$320/st FOB.
Eastern Cornbelt:
Potash pricing was steady at $355-$375/st FOB in the Eastern Cornbelt, depending on location and time of shipment, with the Cincinnati and Ottawa markets reported at the $360-$365/st FOB level in late March.
The market out of Michigan warehouses was reported at $370-$385/st FOB for red potash and $379/st FOB Essexville and Webberville for white tons.
Western Cornbelt:
The potash market remained at $355-$375/st FOB in the Western Cornbelt, with the high reported in Iowa. Sources quoted the St. Louis market at $360-$365/st FOB in late March.
Northern Plains:
Sources quoted the potash market at $355/st FOB St. Paul at the low end of the range, with producer postings at the $375/st FOB level for spring tons. The market to U.S. buyers FOB Saskatchewan mines remained at a firm $330-$340/st after netbacks, depending on grade.
Northeast:
Potash pricing for prompt and Q2 shipments was quoted at $360/st FOB Fairless Hills as of March 22. Rail-DEL tons were pegged in the $385-$395/st range in the Northeast.
Eastern Canada:
Sources reported the potash market at a firm C$545/mt FOB regional warehouses in Eastern Canada in late March.
Russia:
Russianpotash exports in January were reported at 1.02 million mt, up from 916,728 mt in December and significantly higher than the January 2020 total of 108,494 mt, according to Trade Data Monitor.
The lower export volume in January last year could reflect Uralkali’s cutback of potash production in the second half of 2019 due to the prevailing market downturn, as well as scheduled maintenance activities that required temporary shutdown of certain production facilities. The producer had expected to reduce total output by approximately 350,000-500,000 mt during the last half of 2019 (GM Sept. 20, 2019).
Brazil:
Potash demand seems to be waning in Brazil, but the price is rising. Sources put the landed price at Paranagua at $325-$340/mt CFR, with producers arguing for the higher end of the range. The Rondonopolis warehouse price has tightened at $380-$433/mt FOB ex-warehouse.
The barter rate for 1 mt of MOP at Mato Gross remains at 54.5 bags of corn and 21 bags of soybeans. The Goitatuba barter rate is pegged at 1 mt of MOP for 18.9 bags of soybeans or 31 bags of corn.
China:
Potash imports were marginally up in the first two months of the year compared to the same period last year. According to Trade Data Monitor, China imported 1.5 million mt of MOP in January and February of this year, compared with 1.4 million mt last year.
Russia was the main supplier so far this year at 468,000 mt, followed by Canada at 336,000 mt, and Belarus at 315,000 mt. February 2021 imports were at 602,000 mt, compared with 488,000 mt in February 2020.
| Partner Country | January-February (mt) | |
| 2020 | 2021 | |
| World | 1,391,688 | 1,459,356 |
| Russia | 468,043 | 468,080 |
| Canada | 678,874 | 335,668 |
| Belarus | 135,321 | 315,116 |
| Israel | 139,245 | |
| Jordan | 109,450 | 133,090 |
| Laos | 62,971 |