Asian Potash Deal Actively Rejects High Price in Brazil

The business club reported on November 7th that the economic instability in Europe and the United States has not affected the global agricultural economy as a whole except that it has affected crops in a few areas. Rigid demand has caused international potash suppliers to continue to shout all the way up. However, as prices have risen to high levels, suppliers have been slowing prices, and have felt pressure. Major demand markets and suppliers are still playing games.

Due to the strong demand from Asian potash fertilizer market, Arab Potash Corp (APC) has added 8,000 tons of standard potassium Chloride to the Asian market at a price of $535/ton to the station price. Therefore, since the fourth quarter, APC has sold 20,000 tons of standard potassium chloride to Asia.

India is in the normal execution of the potash trade contract with international suppliers and may also have the intention of increasing the purchase volume. Recently, Indian potash company (IPL) ordered 180,000 tons of potash fertilizer from Canpotex, a Canadian supplier. Since the outcome of the negotiations this year, India has signed a contract for 562,500 tons of potash fertilizer. At present, India has about 400,000 tons of procurement intentions, so India's potash fertilizer imports this year may reach 6 million tons. Among them, IPL is the largest importer, importing 3.355 million tons and possibly importing 245,000 tons. IPL and Canpotex's 2/3 KCl contract price is $470/ton to station price, and 1/3 price is $530/ton, which is the same as APC's contract price.

Three weeks ago, traders in Malaysia traded bags of potassium chloride, and the price at the port of Malaysia's western port was 1,560 ringgit (Malayan currency), which is the bulk port price of US$470-475/tonne. Recently, the tender price has risen to more than 1600 ringgit, equivalent to the port price of 495-505 US dollars / ton. Malaysia's standard potassium chloride import contract prices for the March-May contract price of 460 US dollars / ton, arrived in July-August. However, what the international suppliers did not expect was that from June to September, the supplier proposed that the offer of 510 US dollars/ton was not very large in Malaysia. Now the suppliers intend to increase the quotation to 535 US dollars/ton, and the receipt of goods is further reduced. .

Indonesia's local sales of potash price is about 20 US dollars/ton higher than Malaysia, and the demand is very strong. Due to the increase in planting area in Indonesia, it is estimated that the consumption of potassium fertilizer will be 1.8-200 million tons this year. The Israeli Chemical Group (ICL) is preparing to ship 20,000 tons of potash fertilizer to Malaysia and Indonesia at a station price of US$510/ton. It is reported that this is the last batch of low-priced transactions, and ICL has raised its offer to the Southeast Asian market to US$535/t.

The latest transaction prices for standard potassium chloride and large-particle potassium chloride in Vietnam were US$510/tonne and US$535/tonne respectively, which were shipped in September and October. The supplier’s quotation for Vietnam’s standard potassium chloride and large-particle potassium chloride also increased to US$535/tonne and US$550/tonne, respectively.

Unlike the excitement of the Asian market, Brazil's potash imports gradually calmed. This week, there are still no traders in Brazil willing to accept the BPC to increase the price of 30 US dollars / ton, that is, large-scale traders to the station price of 580 US dollars / ton, small traders to the station price of 590 US dollars / ton. According to industry analysts, Brazilian traders are reluctant to receive goods mainly due to the fact that farmers are currently not confident enough in the agricultural product market. To reduce inventory, they began to promote importers and distributors, and accordingly reduced the incentive to use fertilizer; a large number of cargo ships have More than 30 days of congestion in the port of Paranagua, importers are reluctant to increase orders; traders do not accept high prices. In response, Canpotex adjusted its fourth-quarter sales forecast for the Brazilian market. Canpotex may adjust some of its products to the Indian market.

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