Brazil's Potash Imports Surpass 4 Million Tons in Q3
Brazil’s potash imports reached a record high of 4.1 million tons in the third quarter of 2024.
Buyers initially purchased for the soybean crop early in the quarter, then quickly shifted focus to next year’s corn crop. As of September 26, potash prices had dropped from $305-320/ton in early July to $280-290/ton, reflecting seasonal demand slowdown. In early July, China and India signed new potash contracts at $273/ton and $279-283/ton, respectively, applying downward pressure on pricing.
Canada was Brazil’s largest supplier in the third quarter, contributing 1.5 million tons (36% of total imports), followed by Russia, which supplied 1.4 million tons (35%), and Uzbekistan, which provided 557,000 tons (13%).
Zangge to Launch Potash Plant in Laos by End of 2024
Chinese potash producer Zangge plans to launch a 2-million-ton-per-year potash plant in Laos by the end of 2024.
The first phase, with a capacity of 1 million tons per year, is expected to be completed by the end of 2026, with exports starting in early 2027. The second phase, with a similar capacity, is projected to begin construction in 2027 and be completed by the second half of 2028.
Zangge will be the third Chinese-invested potash producer in Laos, following Laos Kayoun Potash and Asia-Potash International. Zangge plans to produce 60% white powder/crystal potash and red granular potash, targeting China and Southeast Asia markets.
Hurricane Milton Could Further Disrupt U.S. Phosphate Production
Hurricane Milton is expected to make landfall in Florida this week, potentially worsening the already tight phosphate supply situation in the U.S. The Tampa area is still recovering from Hurricane Helen, with producers like Mosaic and Nutrien facing ongoing power outages and production disruptions.
Mosaic’s Riverview plant in Tampa suffered flood damage due to storm surges but is expected to fully resume production this week. Nutrien’s White Springs plant is still assessing the damage caused by Hurricane Helen. With Hurricane Milton approaching, production could face further disruptions, particularly at facilities located in the storm’s path, which may need to halt operations and undergo repairs.
Tampa Bay Port and other coastal ports are likely to take additional precautions, restricting operations, which could further impact import and export activities.
Attention: The above information is for commercial reference only due to the diversity of information collected, and Kelewell is not responsible for the authenticity of the data.
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