A new report from Mizhuo investment bank said potash and phosphate fell last week, while nitrogen was mostly unchanged. The price of potash in New Orleans fell about 1.5 percent to $328 per ton, while Midwest costs declined 0.7 percent to $373 a ton. The report said phosphate prices dropped slightly to $851 a ton. “Phosphate affordability is at its lowest level since 2008, and continues to raise concerns about demand referral and destruction,” the report said.
Nitrogen prices were mostly unchanged last week at about $376 a ton in New Orleans and $435 per ton in the Midwest. “Supply disruptions and delays in capacities coming online have led to higher ammonia prices, with the benchmark Tampa price recently settled up $40 in October following a $53-per-metric-ton increase in September." Despite some volatility and recent declines, overall fertilizer prices are still considered high compared to long-term averages.
-NAFB