Canpotex ups Asia, Brazil potash prices on demand

20 September 2007 11:01  [Source: ICIS news]

LONDON (ICIS news)--North American potash supplier Canpotex has announced price increases for standard and granular MOP (muriate of potash) in Asia and Brazil of $30/tonne and $50/tonne respectively, market sources said on Thursday.

 

The hikes were attributed to record potash demand, low inventories, very tight supply and rising freight rates.

 

With immediate effect, standard MOP prices in all Asian markets have been increased by $30/tonne to $360/tonne (€259/tonne) CFR (cost and freight).

 

Granular MOP prices will remain at a $15/tonne premium.

 

Prices had been established at $330/tonne, although International Potash Company (IPC) had recently sold a cargo for November shipment at $350/tonne.

 

In Brazil, Canpotex announced a $50/tonne hike from 1 December 2007.

 

This rise will take granular MOP prices to $355/tonne CFR for large buyers and $365/tonne for smaller customers.

 

Other suppliers, including IPC and Israel Chemicals (ICL), said that they would support Canpotex’s price initiatives.

 

Canpotex, the world's largest exporter of potash, is an international marketing and distribution company wholly owned by the Saskatchewan, Canada, potash producers Agrium, Mosaic and PotashCorp.

 

($1 = €0.72)

 

By: Rebecca Clarke
+44 20 8652 3214

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