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Reuters reported last week that India has halted potash imports for the year ending in March due to droughts that have hurt demand from the country’s agricultural sector.
Reuters reported last week that India has halted potash imports for the year ending in March due to droughts that have hurt demand from the country’s agricultural sector.
As quoted in the publication:
The decision, which has not been previously reported, is India’s first pause in potash imports in years and will be tough on suppliers already reeling from weak demand as China and Brazil also trim their buying.
Major suppliers to India include Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab PotashCo and Israel Chemicals.
Spot prices of potash, a crop nutrient, are at 8-year lows of around $230 a tonne, down by more than a quarter from a year ago.