Belarus potash trader sees 2014 prices above $300 per tonne
The trading arm of state potash producer Belaruskali - Belarusian Potash Company (BPC) - said on Friday it expects its 2014 potash prices to be above the level set by the country's Economy Ministry.
A day earlier, Deputy Economy Minister Alexander Yaroshenko said Belarus plans to cut potash export prices to $300 a tonne in 2014, adding to pressure on global prices for the soil nutrient already hit by the breakup of Belarus's joint venture with Russia.
"Yaroshenko disclosed the minimum price, the price for FOB/DAF (free-on-board basis and delivery at frontier). We expect the price to be higher next year," BPC representative Irina Savchenko told Reuters.
BPC believes potash prices have reached their bottom and will start to rise, she added. North American prices at the Port of Vancouver were seen at $315-330 per tonne on an FOB basis in November.
Belaruskali's sales alliance with Russian producer Uralkali fell apart in July, causing an economic headache for Belarus, where potash exports are a key foreign-currency earner. The joint venture accounted for 40 percent of the world market.
The deputy minister also forecast the country would export 7 million tonnes of potash in 2014, up from 6.1 million tonnes in 2012. BPC did not comment on the volume of its future sales.
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