Reuters reported that despite the slowdown in the potash market over the last eight months, two junior potash companies have managed to shake off the bearish sentiment of the industry, bolstered by their proximity to two of the world's most promising, but under-served fertilizer markets: Brazil and Africa.
Potash Market News Directory
ABC Rural reported that phosphate industry players should keep their eyes on Morocco as it appears that the country's Government will make a move to increase its stake in global phosphate production, which could in turn threaten Australia's supply.
Global News reported that more than 50 people were forced to seek refuge in emergency shelters at Agrium's potash mine near Vanscoy following a fire that started overnight on Friday.
Reuters reported that Sinochem has extended an agreement to buy potash from Canpotex, North America's potash marketing arm, by one year
Bloomberg reported that in 2014, Uralkali OAO (MCX:URKA) sees global demand for potash reaching a 10-year high as falling prices allow sales to pick up.
Reuters reported that U.S. fertilizer giant, Mosaic Co, cut its outlook for the 2013 global potash shipments citing weaker demand in India and a delay in setting a second-half contract between Canpotex and China's Sinofert Holdings.
Reuters reported that according to Canada's Agrium Inc. (TSX:AGU,NYSE:AGU), during the current quarter, potash volumes will be approximately 30 percent lower than normal.
The Wall Street Journal reported that in the fourth quarter of this year, Russia's Uralkali (MCX:URKA) plans to cut potash prices for compound fertilizer producers by 12.5 percent.
Reuters reported that although Uralkali's (MCX:URKA) withdrawal from its joint venture with Belarus "could push potash prices down 25 percent," a top Belarussian official has said the country is not willing to lower its prices for the fertilizer.
Bloomberg reported that Wayne Brownlee, CFO of Potash Corporation of Saskatchewan Inc. (TSX:POT,NYSE:POT), said that global potash markets have been "paralyzed" since Uralkali's (MCX:URKA) withdrawal from its joint venture with Belarus.