Potash Shipments Boost Scotiabank Commodity Price Index in May

Scotiabank announced that their commodity price index rebounded in May, pushed up in part by a surge in potash shipments to China and Brazil.

As quoted in the market report:

China’s potash imports jumped by almost 19% from January to April 2013 to 2.67 million metric tonnes (mt) compared with 2.25 mt a year earlier.  Brazilian imports have surged to 2.2 mt so far this year – up 53% year over year (yr/yr) – with buyers taking advantage of lower potash prices and incented by still high grain prices.

To view the whole Scotiabank report, click here.