Potash inventories sag as dealers start restocking

In January, North American potash inventories at the manufacturer level fell sharply, as dealers restocked supplies of the crop nutrient ahead of the spring planting season and overseas sales gained momentum.

The press release is quoted as saying:

Potash inventories fell by over 550,000 tonnes to roughly 2.5 million tonnes, the lowest level since December 2008, according to data provided by Potash Corp of Saskatchewan (POT.TO), the world’s largest producer. North American inventories have now fallen substantially for a third straight month and inventories are now only 6 percent above the prior five-year average.

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