Potash Corp. CEO Calls Uralkali Move ‘Dumbest Thing’ - Bloomberg

Potash Corp. CEO Calls Uralkali Move ‘Dumbest Thing’ - Bloomberg:

"Potash Corp. of Saskatchewan Inc. Chief Executive Officer Bill Doyle said rival potash producer OAO Uralkali’s decision to boost sales volumes at the expense of prices has been self-destructive after the price of the commodity slumped and customers deferred purchases.
Russia’s Uralkali, the world’s biggest supplier, upended the potash market in July when it quit a marketing joint venture with its competitor in Belarus and said it would sell the fertilizer at lower prices.
Potash Corp. yesterday posted lower-than-expected third-quarter revenue and cut its full-year earnings forecast. Doyle said the Saskatoon, Saskatchewan-based company remains committed to Canpotex Ltd., a joint venture that markets potash from the largest North American producers and seeks to support prices at the expense of volume. He said Uralkali’s policy is a failure."

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