Uralkali doesn't rule out new potash deal with Belaruskali
The chairman of Russia's Uralkali, the world's top potash producer, said he did not rule out future cooperation with its Belarusian peer despite authorities in Minsk having arrested Uralkali's CEO.
Vladislav Baumgertner was detained on August 26 while visiting Belarus at the invitation of its prime minister, adding a diplomatic dimension to a trade dispute sparked some four weeks earlier when Uralkali quit an alliance with Belarus state potash producer Belaruskali.
Uralkali has estimated the collapse of what was the world's largest potash alliance could push potash prices down 25 percent in the second half of 2013. That in turn could have a major impact on the economy of Belarus, where the soil nutrient accounts for 12 percent of state revenue.
Uralkali main aim was to get the CEO released, chairman Alexander Voloshin told the Interfax news agency on Wednesday.
Asked if cooperation could be resumed, Voloshin added: "Nothing is impossible, but it is probably not the best time to discuss it now."
Cooperation between the firms was unlikely in the foreseeable future as the conflict has gone too far, but in theory a resumption could not be ruled out, said Boris Krasnojenov, an analyst from Renaissance Capital.
Baumgertner is in custody and due to stand trial charged with abuse of power.
Uralkali has in turn accused Belarus of political persecution while Russian First Deputy Prime Minister Igor Shuvalov described the CEO's detention as inappropriate.
- What to do now in regards to the 2014 Farm Bill
- Mistakes that hurt a farm's credit
- Mycogen Seeds introduces four new sunflower hybrids for 2015
- China cuts cotton import quotas to boost demand for its own fiber
- Hog futures the exception to bearish ag market rule Monday AM
- Gangster herbicide program update
- Despite USDA approval, Enlist trait faces hurdles
- Activist investor Peltz pushes DuPont to split itself
- USDA approves Dow’s Enlist corn, soybean traits
- Mapping technology help farmers understand soil
- Study shows differences in understanding sustainable agriculture
- Vilsack urged Buffett to ready BNSF for record crops
- U.S. GMO labeling foes triple spending in first half of this year
- Activists fighting Golden Rice even more in 2014
- Source shows half of GMO research is independent
- East-West Seed signs marketing collaboration with Monsanto
- White House issues veto threat on bill to block WOTUS rule
- USDA releases 2012 cash rents data report