Potash Prices Skid
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Potash Investing News reports potash prices on the low side.
International Potash Co, the marketing arm of Russia’s biggest producer, OAO Silvinit, agreed last week to supply India with 850,000 tonnes, by March 10.
This benchmark low price is about 26 per cent below a previous low, and other major consumers including China will likely use it as a bargaining chip to ink contracts at lower rates. The contract with India is key because of the way the potash industry works. Large potash contracts are usually negotiated between brokers and foreign governments anxious to secure a predictable supply of fertilizer for their farmers.
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