The Chinese National Agricultural Means of Production Group signed a first-half sales deal on Monday with Russian potash producer OAO Uralkali (URALL.LON, URKA.MCX) to buy the fertilizer additive potash for US$305 a metric ton, The Wall Street Journal reported. The Chinese consortium is set to buy 700,000 tons of potash. China is the world’s biggest consumer of potash and contracts signed there have previously been seen as setting the price for the global market. The potash market has been uncertain recently, with prices falling more than 25% from US$400 a ton last summer.
Categories