Potash miners announce further cutbacks
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Potash Investing News reports production cutbacks for potash due to slow demand and high inventories.
Despite low demand, potash prices are anticipated to slowly increase over the coming months as energy markets rebound. ”The ag sector as a whole does seem to be a bit in recovery mode…I would expect fertilizer usage to rise a bit from recent lows and that should help support prices somewhat,” said Kona Haque, commodity strategist with Macquarie Bank, adding that credit concerns would continue to limit purchases in some major agricultural producers including Brazil. Ken Bowler, marketing manager for British fertilizer supplier GrowHow, said signs of strength in energy markets could give fertilizer prices a lift.
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