Potash slump hits Western Canada province

Potash sales in the Western Canadian province of Saskatchewan has dropped to their lowest level in 37 years. This caused a C$1.8 billion hole in its budget. Saskatchewan is one of the world’s richest sources of the crop nutrient.

The news release is quoted as saying:

Saskatchewan was expecting C$1.9 billion ($1.8 billion) in potash revenue when it set its 2009-10 budget in March, but slashed that estimate to C$637.6 million in mid-August. Now it expects to take in just C$109 million, its lowest revenue from the fertilizer in 13 years.

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