Uralkali settles its part of antitrust lawsuit

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

A leading Russian potash manufacturer settled its part of a U.S. antitrust lawsuit charging several potash producers of price fixing since 2003. Uralkali has agreed to pay direct and indirect plaintiffs $10 million and $2.75 million respectively.

The class-action lawsuit, which originally began in 2008, was dismissed last September, but the U.S. Court of Appeals revived the case in June. The lawsuit accuses seven companies of fixing the price of potash.

The other defendants include Agrium, Potash Corp, Mosaic, Silvinit, which is now merged with Uralkali), Belarusian Potash and International Potash. These manufacturers produce 70 percent of the potash used throughout the world. The groups have been accused of operating as a cartel.

Uralkali’s decision to settle is expected to put pressure on the other remaining defendants to settle.

U.S. producers balked at the steep increase in potash prices between 2004 and 2008 when the recession hit the economy. Potash was priced at $100 per tonne in 2004 and rose to nearly $900 per tonne in 2008. After the market burst, prices fell to $350 per tonne. Today, the current price is ranging between $460 and $470 per tonne.

Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...

Comments (0) Leave a comment 

e-Mail (required)


characters left

Grain Storage Systems

Behlen Grain Storage Systems offers large capacity bins with diameters from 16’ to 157’ and capacities exceeding 1,500,000 bushels. All ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form