A World-Class Investment in Food Security
Brazil is Perhaps The Most Valuable Market
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2018
Benchmark Prices, USD/tonne
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Vancouver Spot, MOP Standard FOB
Brazil Spot, MOP Granular CFR
-China Contract, MOP Standard CFR
Brazil is a spot market and key global benchmark
Brazil is a fragmented market where product is typically sold on short term contract (<1 month) vs. other markets such as China, where
there are only five state-approved buyers who negotiate an annual contract
Strong crop prices and conflict in Ukraine have led to the highest global capacity utilization since 2005, with little incremental near-term
capacity available
Brazil should remain tight as supply from Belarus unavailable; and potentially constrained Russian supply
Sources: Fertilizer Weekly, World Bank Commodity Markets, Green Markets as at January 18, 2023
BRAZIL
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