The Wall Street Journal reported that in the fourth quarter of this year, Russia’s Uralkali (MCX:URKA) plans to cut potash prices for compound fertilizer producers by 12.5 percent.

As quoted in the market news:

The drop in price will affect primarily industrial producers of blended fertilizer products who had paid around 8,060 rubles a ton for potash in the third quarter, the company said.

Uralkali has shifted its focus to volume as opposed to price since withdrawing from a trading partnership with Belarus. The move in late July effectively ended an informal global pricing cartel.

Click here to read the full report from The Wall Street Journal.