PotashCorp drops potash price 11% for North America

04 January 2010 18:23  [Source: ICIS news]

HOUSTON (ICIS news)--Canada’s Potash Corp of Saskatchewan (PotashCorp) reduced its price of potash for North American customers to $390/ton (€301/tonne) ex-warehouse, effective on Monday, down 11% from the previously posted price of $440/ton, the company said.

PotashCorp, the world’s largest fertilizer producer, said the $390/ton price for granular potash would be valid through 28 February.

“The price was set at $390/ton to keep us competitive in the North American market,” said PotashCorp senior vice president Tom Pasztor.

The price posting followed the 3 January reopening of PotashCorp’s 3.8m tonne/year mine at Lanigan, Saskatchewan, that had been idled since 29 November.

The 400-employee Lanigan mine was brought back into production strictly for inventory management, Pasztor said.

Global demand for potassium fertilizers for use on northern and southern hemisphere crops is expected to increase in 2010.

($1 = €0.70)

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By: Frank Zaworski
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