LONDON (ICIS)--German fertilizer major K+S said on Tuesday that it remains confident about medium- and long-term pricing trends in the potash fertilizer market - despite the withdrawal of its Russian competitor Uralkali from an export sales group, which prompted a sharp decline in K+S' share price.
Uralkali announced earlier on Tuesday that it decided to discontinue export sales through Belarusian Potash Co (BPC), the sales organisation it jointly owns with ?xml:namespace>
K+S said that media reports about the impact Uralkali’s move could have on prices “are not understandable for us and, from our point of view, do not reflect the current supply and demand situation.”
“The positive medium- and long-term trends for potash fertilizers remain unchanged,” Kassel-based K+S said in a brief statement.
The company added that “a comprehensive valuation of the current situation” following Uralkali’s move was not possible at this time.
Meanwhile, K+S' share prices was quoted down 22.4% to €20.80/share at 19:02 local time in Frankfurt, according to information on the company's website.
Additional reporting by Sergei Blagov