03 October 2013 16:36 [Source: ICIS news]
LONDON (ICIS)--World grain market developments bode negatively for Polish fertilizer producers with a price squeeze hitting farmers’ purchasing power, Erste Group Bank said on Thursday.
“The most hurt should be price-sensitive multi-component fertilizer companies,” the bank said in a note to investors, picking out Zaklady Chemiczne Police (ZChP) as one of the more exposed producers.
With major grain prices having remained on a downward trend throughout September, ZChP's parent company – second largest European fertilizer maker Grupa Azoty – would also be hit by reduced demand for fertilizers, Erste said.
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