Potash Markets “Paralyzed,” Says Potashcorp CFO

Bloomberg reported that Wayne Brownlee, CFO of Potash Corporation of Saskatchewan Inc. (TSX:POT,NYSE:POT), said that global potash markets have been “paralyzed” since Uralkali’s (MCX:URKA) withdrawal from its joint venture with Belarus.

As quoted in the market news:

“We’ve seen very little volume movement” in the past month, Potash Chief Financial Officer Wayne Brownlee said today at an investor conference in New York. “In the offshore market, volumes have been essentially paralyzed.”

“The customer base, as you would expect, when they don’t know what is going to happen, their first reaction is, ‘I don’t want to write down inventory, so I’m not going to buy,’” Brownlee said. “They don’t want to add that risk.”

Click here to read the full Bloomberg report.