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 0.3 percent to $851 a ton.
“Phosphate affordability is at its lowest level since 2008, and continues to raise concerns about demand referral and destruction,” Mizuho 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,” Mizuho said in its report.
Despite some volatility and recent declines, overall fertilizer prices are still considered high compared to long-term averages.
