14 February 2008 10:10 [Source: ICIS news]
LONDON (ICIS news)--Leading Europe potash supplier Kali and Salz (K+S) has raised the price of granular muriate of potash (MOP) by €25/tonne ($36.5/tonne) to €345/tonne effective immediately, amid continued strong demand and tight supply, a company official said on Thursday.
The price would remain in place until further notice, the company official said.
The previous price of €320/tonne CIF (cost, insurance, freight) NWE (northwest ?xml:namespace>
Meanwhile, Israel Chemicals (ICL) is reported to have also raised its price to €345/tonne CIF, and Belarusian Potash Company (BPC) is also expected to follow suit after already concluding sales at €330/tonne CIF.
Granular MOP prices have risen strongly over the past year on the back of tight supply, strong demand and high freight and energy costs.
Prices were in the €170s/tonne CIF NWE this time last year, according to global chemical intelligence service ICIS pricing.
($1 = €0.69)
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