BPC resumes potash sales, raises prices

07 November 2007 17:11  [Source: ICIS news]

LONDON (ICIS news)--Belarusian Potash Company (BPC) has resumed potash sales and increased prices in response to strong demand in major markets, a supply shortage and rising freight rates, a company official said on Wednesday.


BPC temporarily suspended entry into new potash sale contracts on 29 October following concerns about supply disruptions at Silvinit and in response to a similar decision by PotashCorp in North America.


A source at International Potash Company, marketer of Silvinit potash, said on 6 November that there had been no major changes in the sinkhole that could affect its rail links and that product continued to be shipped as usual.


Other market sources have said that there had been something of an overreaction to the situation.


Given market fundamentals, the BPC official said it had raised standard MOP (muriate of potash) prices to Asian spot markets by $40/tonne (€27.60/tonne) to $400/tonne CFR (cost and freight) effective immediately and until further notice.


In addition, BPC announced that spot granular MOP prices in Brazil would rise to $400-410/tonne from 1 January 2008 from the current $345-355/tonne.


BPC markets potash from Russia’s Uralkali and Belarussia’s Belaruskali.


($1 = €0.69)

By: Rebecca Clarke
+44 20 8652 3214

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