11 November 2010 17:10 [Source: ICIS news]
LONDON (ICIS)--Belarus Potash Corp has increased its price of southeast Asia standard-grade muriate of potassium chloride (MOP) by $25/tonne (€18/tonne) and that for Brazilian granular MOP by around $30/tonne, a source at the Belarus-based company said on Thursday.
The new southeast Asia standard MOP price was $430/tonne CFR (cost and freight), a $25/tonne increase on the fourth-quarter market price of $405/tonne CFR.
The new prices for the Brazilian market, in which most MOP is used in granular form, are $440/tonne and $450/tonne CFR for large and smaller buyers, respectively. Most business done with large Brazilian buyers in the fourth quarter had been at around $410/tonne CFR.
Belarus Potash said that strong demand had allowed for price increases in the two regions.
In southeast Asia, markets were in a traditionally busier period due to seasonality but demand in Brazil was unusually strong for the time of year.
Strong crop prices and buyers’ anticipation of further MOP price increases had supported demand in the Brazilian market.
Belarus Potash and International Potash Co, a Russian MOP producer, both reported sales agreed this week of more than 100,000 tonnes of standard MOP to southeast Asia at the new price of $430/tonne CFR.
No new deals had been reported for Brazil so far.
($1 = €0.73)
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