Potash prices soften; global fertilizer demand stays strong
Soft demand for potash in the United States has caused Potash Corp of Saskatchewan to cut its summer warehouse prices of potash, Reuters quoted analyst Robert Winslow of National Bank Financial as saying.
“Potash Corp posted prices of US$510 to US$520 per short tonne for granular potash, effective June 11,” Winslow said, citing the industry newsletter Green Markets. “The prices were 9 percent lower than company prices about a year ago,” he said in a note to clients.
PotashCorp said it would return to pre-cut prices on July 21.
Also this week, Agrium announced it remains positive for seeing strong international fertilizer demand. Strong global grain prices and demand for fertilizer around the world is keeping prices robust. Supply is adequate to tight, which is also keeping prices supported, according to the company.
Last week, Agrium reported that it had more than doubled its dividend in less than six months after it quadrupled the semi-annual payout. Also supporting Agrium’s profits is the acquisition of most of Viterra’s retail assets.