Uralkali seeking deals for potash, distribution network
Key Uralkali rivals include Canada-based Potash Corp , the world's largest potash producer, as well as Mosaic Co.
Indian Fertilizer Contract
Uralkali had expected to sign a fertilizer contract with India this month, but now does not expect to do so until October or November, Baumgertner said.
India is one of the world's biggest consumers of potash. It buys the fertilizer through contracts renewed mostly on an annual basis, in contrast to other users including Brazil, which buy on the spot market.
Earlier this year India cut its domestic subsidy for some fertilizers by 20 percent, a move designed to cut government costs. The unpopular maneuver effectively cut demand for potash across the country.
"Weak demand in India prevented us from (signing a new contract)," Baumgertner said, adding that Uralkali does not think it will be able to boost prices in the next contract.
"We're going to insist on stable prices," he said. "We'll see what the final outcome of the negotiations will be."
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