10 October 2026, Brazil: Recent prices for potassium and urea in Brazil have been moving in opposite directions. Potassium has been less impacted by tensions in the Middle East and potassium prices have declined 10% at Brazilian ports after nine consecutive weeks of lower prices. Urea on the other hand, has been more impacted by tensions in the Middle East and urea prices at Brazilian ports have increased 20% during the past five weeks.
One of the main reasons for the differences in prices is the location of the world’s largest suppliers. Russia, Belarus, and Canada account together for approximately 75% of global exports of potassium chloride. Between January and August 2026, Canada accounted for 39% of Brazil’s imports of potassium chloride, while Russia accounted for another 31%.
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With soybean planting underway, the main buying season for potassium chloride for the summer crops is nearing its end. The lower potassium prices will be important for farmers still needing to purchase fertilizers for the safrinha corn crop. A survey published by Noticias Agricolas two weeks ago indicated that approximately 46% of the fertilizer needs for safrinha corn had already been contracted compared to 44% the prior year.
In fact, some farmers in Mato Grosso have taken advantage of the attractive potassium prices to book purchases for the 2027/28 soybean crop that will be planted a year from now.
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