Commodity sell-off not hurting potash - company

14 August 2008 18:13  [Source: ICIS news]

HOUSTON (ICIS news)--Potash fertilizer prices were untouched by a recent sell-off in other commodities due to strong fundamental demand, the CEO of Intrepid Potash said on Thursday.

While oil and natural gas prices have fallen from summer highs – along with corn, which pushed down some fertilizer companies’ stock prices earlier this month – the market dynamics of potash fertilizer remain firm, Intrepid Potash CEO Bob Jornayvaz said.

“During this recent period of commodity volatility, potash prices have not gone down one tick. Instead, they have steadily increased as warranted by the fundamentals of demand outstripping the currently available supply,” Jornayvaz said.

Moreover, the commodity sell-off has helped Intrepid Potash save money on purchases of diesel fuel and natural gas, Jornayvaz said.

The company announced record profits on Wednesday evening.

Shares of Intrepid Potash were trading at $43.15 per share (€28.91), down $3.58 or 7.66%.

($1 = €0.67)

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By: David Rosen
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