Potash Prices May Touch $600 Per Tonne on Domestic Demand

The Economic Times reoprted that Uralkali (LSE:URKA) sees potash prices reaching $600 on increased demand from India.

As quoted in the market news:

Global demand for potash is expected to grow at 3-3.5% annually. In India, the world’s second-biggest buyer of the fertiliser, it is expected to grow at 5-7%. The trading arm of Russian potash maker Uralkali recently negotiated an increase in potash prices with its Brazilian clients to $580-590 a tonne.

Uralkali’s CEO, Vladislav Baumgertner said:

“But in order to justify development of these greenfield capacities, we need to have certain prices that can come up to net-back (ex-factory) price $450-500.”

Click here to read the full Economic Times report.