Brazilian potash prices have fallen further, reaching a low of $345/mt CFR, more evidence of the pressure suppliers are under in the region amid currency depreciation and seasonal low demand. Prices are currently quoted in the range of $345-355/mt CFR with more than one supplier offering at the low end but most sales have halted due to currency depreciation. The Brazilian real fell another 4.7% against the dollar this week and has now dropped 33% in the last twelve months. As such, buyers continue to limit purchases in an attempt to lower potash prices. The spot price in Brazil has now fallen by as much as $25-30/mt since the start of 2015.
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