Southeast Asia potash prices rise as producers achieve targets

06 October 2010 13:55  [Source: ICIS news]

RIO DE JANEIRO (ICIS)--Potash prices in southeast Asia are rising as producers have managed to secure sales at their new price targets, market sources said late on Tuesday.

Producers Arab Potash and International Potash Co reported sales to southeast Asia at $405/tonne (€292/tonne) CFR (cost, insurance and freight) for standard-grade muriate of potash (MOP) and $418-420/tonne CFR for granular MOP.

Sources were speaking on the sidelines of the International Fertilizer Industry Association (IFA) Production and International Trade conference in Rio de Janeiro, Brazil.

The sales followed announcements by Belarus-based Belarus Potash Corp (BPC) and Canada’s Canpotex of new price levels for southeast Asian of close to $405/tonne CFR for standard MOP and $415-420/tonne CFR for granular MOP.

Belarus Potash reported that it had achieved these price levels in southeast Asian markets.

Prior to the new price announcements, prices in some of the region’s markets, such as Malaysia and Indonesia, were close to $380/tonne CFR.

One producer source said the new price levels would soon be widely established in the southeast Asia region. A second source said there was more room for price increases until the end of year.

($1 = €0.72)

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By: Rita Menezes
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