Uralkali Exits Potash Marketing Venture to Seize Market Share on Price Drop

Bloomberg reported that OAO Uralkali (LON:URALL) has exited a marketing venture which maintained control of about 43 percent of global exports, suggesting the prices may soften as they go it alone.

As quoted in the Bloomberg report:

Uralkali’s announcement completely turns the global potash market upside down,” Elena Sakhnova, a VTB Capital analyst in Moscow, said by phone. “If previously global potash producers were acting like an oligopoly, working with the rule that benefited higher potash prices over shipped volumes, now the market will be fully competitive.

To view the whole Bloomberg report, click here.