Developing nations to push up potash demand 45%

15 July 2008 16:55  [Source: ICIS news]

China to push up potash demandSAN ANTONIO, Texas (ICIS news)--Increasing the amount of potash applied to farms in China, India and Brazil to their recommended levels will increase global demand for the fertilizer by 45%, the chief executive of Potash Corporation of Saskatchewan (PotashCorp) said on Tuesday.

China needs an additional 14m tonnes, India needs another 6.5m tonnes and Brazil needs 4.5m tonnes per annum, Bill Doyle said at the Southwestern Fertilizer Conference.

“Many countries are working to recover from years of under-applying this essential nutrient,” Doyle said.

Meanwhile, inventories of potash fertilizer were 50% lower in May than on average over the past five years, Doyle said.

One of the problems facing global potash capacity was how long it took to get a mine up and running - normally, five years - Doyle said.

Saskatchewan, a province in central Western Canada and one of the world’s largest deposits of potash, was facing “a situation similar to a gold rush”, Doyle said.

The Southwestern Fertilizer Conference, held annually in San Antonio, ends on Tuesday.

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By: David Rosen

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