Lower Inventories for North American Potash
Reuters reported that shipments to China helped reduce North American potash inventories.
Reuters reported that shipments to China helped reduce North American potash inventories.
Rising food costs and under-utilized farm resources have led China to give phosphate a greater strategic role. Focused on developing domestic supply, local governments are reducing the number of domestic operators while building bigger firms.
Western Potash began its search for a strategic partner this month while North American potash inventories grew in anticipation of increased demand from domestic and international buyers.
Reuters reported that Israel Chemicals (TLV:ICL) will supply China with over half a million tons of potash in Q2.
Despite recent concerns around the health of the Chinese economy, recent potash contracts from China have given hope for investors banking on rising food and crop prices.
The StarPhoenix reported on a recent potash supply deal between Canpotex and Sinofert (HSE:0297).
Mining Weekly reported that Canpotex said potash prices to China would stay the same in second quarter.
Reuters reported that Belarusian Potash has signed an agreement to sell up to half a million tons of potash to China in Q2.
Bloomberg reported that Uralkali (LSE:URKA) said it would slash potash production after China and India postponed their purchases.
Bloomberg reported that Sinofert Holdings (HSE:0297) said it will look to acquire potash mines to help meet Chinese fertilizer and food demand.
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