INSIGHT: POTASH MARKET IN FURTHER CHAOS AFTER URALKALI CEO ARREST

The Uralkali CEO’s arrest has yet again raised further market uncertainties and price volatility.

  • 26 August - Uralkali CEO arrested in Belarus
  • 29 August - Russia restricts oil shipments to Belarus
  • 2 September - Belarus issues arrest warrant for Uralkali co-owner

"Potash prices have tumbled by 15%-20% in some markets such as southeast Asia and Latin America since the breakup of the cartel and are still trying to find a floor."

"Chinese buyers are asking for a price discount of $100/tonne to $300/tonne CFR, compared to the first half 2013 price of $400/tonne CFR."

"Producers are already preparing themselves for a few tough years ahead. Germany’s K+S plans a cost-cutting programme because of uncertainty in the market."

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