Russian potash producers dispute anti-trust fines

25 May 2007 09:11  [Source: ICIS news]

MOSCOW (ICIS news)--Russia's major potash producers Uralkali and Silvinit, both based in the Perm region in the Urals, on Friday pledged to contest in courts the Federal Antimonopoly Service (FAS) over anti-trust fines.

Silvinit's domestic potash prices have been the lowest in Russia, the company said in a statement.

It also disagreed with the FAS order to cut its domestic price to roubles (Rb) 2,100/tonne ($81/€60), while Uralkali was told to sell potash at Rb 2,950/tonne.

Earlier this week, Uralkali also disagreed with the recommended price of Rb 2,950/tonne.

Uralkali argued that on 16 April and 17 May it sold 9,000 tonnes of potash at the Moscow Stock Exchange at Rb 3,560/tonne and Rb 3,600/tonne.

Last week, the FAS ordered Uralkali and Silvinit to pay Rs189m in fines.

($1 = Rb26/€1 = Rb35)

By: Sergei Blagov
+44 20 8652 3214

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