Skip Navigation LinksMy Argus / News / News Story

Printer friendly

Brazil’s MOP imports fall further

08 Mar 2018 12:00 GMT
Brazil's MOP imports fall further

London, 8 March (Argus) — Brazil's February imports of MOP were down by 29pc compared with the same month last year, after being 23pc behind 2017 levels in January.

The country imported a record 9.67mn t of MOP in 2017 on the back of strong demand for granular product that had persisted for most of the year.

MOP demand began to wane late last the year, as buyers had mostly secured what they required ahead of the safrinha harvest. Buyer interest fell further in January, and the lull in trade activity continued into February.

Brazil imported around 502,000t of MOP in February, customs data show. Russia was narrowly the top supplier, securing a 30pc share of the market, along with Canada. Germany provided 23pc of the total, and Israel 8pc. Belarus — the second largest supplier to Brazil behind Canada in each of the past four years — also took just an 8pc market share in February.

Suppliers managed to increase the granular MOP price to $292-300/t cfr at the beginning of March — despite the comparatively low demand in the first two months of this year — after it had been unchanged at $290-295/t cfr since 4 January, as the availability of lower-priced product disappeared.