Reuters reported that EuroChem, one of Russia's top fertilizer producers, is planning to move forward with plans to develop potash mines in Russia, however, it will also consider shelving other projects if it needs to reduce its debt.
Articles Tagged "russia"
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.
On Monday, Belarus detained Uralkali CEO Vladislav Baumgertner on the grounds that he abused his power as chairman of Belarusian Potash Company.
Bloomberg reported that OAO Uralkali (LON:URALL) has exited a marketing venture which maintained control of about 43 percent of global exports, suggesting the prices may soften as they go it alone.
BEATA reported that Belarus and Russia are in talks regarding joint initiatives to sell potash through BPC.
There is more than one way to break the hold of potash majors over pricing. One solution is to bring more companies to the marketplace.
Bloomberg reported that Belarus's President wants to talk with Vladimir Putin about expanding Belarusian Potash.
Reuters reported that Russian potash producer Uralkali (LSE:URKA) has reduced its 2012 production target due to a drop in global demand.
Potash production remains stagnant as Potash Corp and Uralkali cull output in response to low farmer purchasing. However, short-term prospects look slightly positive as producers are certain global demand will pick up.