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.
Articles Tagged "potash prices"
BNN reporter, Andrew Bell, recently spoke to BMO Analyst Joel Jackson, who contrary to his bullish colleagues holds a more bearish sentiment for the fertilizer markets.
Reuters reported that both India and China are working to take advantage of market upheaval by seeking price cuts of 25 percent or more.
On Tuesday, Russian potash giant Urakali called quits to its partnership with Belarusian Potash Company, putting an end to the overseas fertilizer cartel. Fallout from Urakali's move could reach as far as BHP's $15 billion Jansen project, according to Bloomberg.
In a move that delivered a one-two punch to North American potash producers' share prices, Russia's Uralkali announced that it will no longer be selling potash through Belarusian Potash Company.
Uralkali’s announcement this morning that it will stop selling potash through the Belarusian Potash Company (BPC) is a significant development.
Potash prices are still on the low side, and some fertilizer buyers are taking advantage of the opportunity to stock up on the much-needed fertilizer.
AG Professional reported that Uralkali has commented that there is likely room for potash price growth, even without bringing new players into the market, like BHP intensifying competition.
Bloomberg reported that Uralkali has reduced rail shipments to China in an effort to put downward pressure on spot market sales and prices.
After watching potash contract and spot prices fall through much of 2012, producers believe prices will not drop any further.