Potash Demand to Hit 10-year High in 2014, Says Uralkali

Bloomberg reported that in 2014, Uralkali OAO (MCX:URKA) sees global demand for potash reaching a 10-year high as falling prices allow sales to pick up.

As quoted in the market news:

‘We expect that next year the global demand for potash will definitely grow, and may reach 58 million tons to 60 million tons,’ Oleg Petrov, Uralkali’s chief of sales and marketing, said in interview in Moscow today. ‘Farmers are comfortable with the current price and they don’t expect it to fall any more.’

Potash demand was 57 million metric tons in 2011, the highest since at least 2003, according to data from Berezniki, Russia-based Uralkali. Use of the commodity, which helps farmers strengthen crop roots, will be capped at 53 million to 54 million tons this year, the company said.

Click here to read the full Bloomberg report.