Uralkali Agrees to 24% Cut in Potash Price for China - Bloomberg

Uralkali Agrees to 24% Cut in Potash Price for China - Bloomberg:



"OAO Uralkali (URKA), the world’s largest potash producer, agreed to supply the soil nutrient to China at a price 24 percent less than it did before pulling out of a joint supply deal with Belarus.



 Uralkali will sell potash to a group of Chinese customers at $305 a metric ton under a contract covering the first half of 2014, the Berezniki, Russia-based company said yesterday in a statement. The agreement covers 700,000 tons. The price compares with the $400 Uralkali charged when it marketed potash jointly with Belarus until July.



 “It’s a definitive price point that people can look at and use as some sort of floor price,” Peter Prattas, a Toronto-based analyst at Cantor Fitzgerald LP, said yesterday in a telephone interview. “Buyers have been waiting for something like this as a catalyst so they can start buying again.”"



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