China Considers Purchase of Belaruskali
Rumours are spreading that a state-owned Chinese company may come forward with a purchase offer for Belarus’ prized asset, potash miner Belaruskali.
Rumours are spreading that a state-owned Chinese company may come forward with a purchase offer for Belarus’ prized asset, potash miner Belaruskali.
With Belarusian potash miner Belaruskali up for sale, rumours are running wild over who could be a potential suitor for one of the world’s biggest potash producers.
Fertilizer producer stocks were hit by last week’s sell-off; however, investment firms are maintaining their bullish stance on the sector’s outlook.
Bloomberg reported that Canadian stocks increased as energy and fertilizer shares rose.
While grain prices have been experiencing volatility in the aftermath of Japan’s earthquake; potash prices have yet to feel the effects.
The shares of potash producers rallied Wednesday, following the US Department of Agriculture’s forecast that corn stock would fall to its lowest level since 1996. The news sent grain futures higher, lifting demand for potash and other fertilizers.
Bloomberg reports that Potash Corp. of Saskatchewan Inc., rose the most in more than four months in New York amid speculation corn and soybean futures will extend price gains into next year.
Bloomberg reports that Potash Corp. of Saskatchewan Inc.’s (TSE:POT) borrowing costs may rise after the company sold $1 billion in bonds.
Potash producers are dealing with new market fundamentals, as global markets recover from the recession.
Businessweek reports that Potash Corp. of Saskatchewan Inc. (TSE:POT) announced plans to repurchase as much as $2 billion of its stock.
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