http://m.agrimoney.com/news/...t-from-bpc-break-up-strikes--6382.html
Potash price dips as hit from BPC break-up strikes
12:17 UK, 16 th Oct 2013, by Agrimoney.com
Potash prices fell to their lowest since 2010 as the buyers' stand-off prompted by the shattering of the Belarusian Potash Company cartel, and evident in weak North American demand date, hit home.
Potash prices, which had initially held firm in Vancouver after the BPC break-up was announced in late July, fell by more than $20 a tonne to some $380 a tonne last month, data from fertilizer giant PotashCorp showed.
The decline reflected a fall-off in demand following BPC's beak-up by Russia's Uralkali - a move which, in reducing industry pricing discipline, prompted widespread expectations of a drop in values.
However, prices remained well above levels of $300 a tonne or less than Uralkali said could be in the offing, although the group has since rowed back on such a downbeat expectation.
Demand falters
The impact of the BPC break-up in demand was evident in both domestic North American sales and exports, the PotashCorp data revealed.
Domestic sales were, at 662,000 tonnes, down 26% year on year, in what is normally a seasonally strong period, as farmers undertake autumn plantings.
Export sales fell 12.9% year on year to 399,000 tonnes - the weakest September performance since 2001.
With North American potash production showing a seasonal rise, after summer maintenance shutdowns, inventories rose 14.8% year on year to 2.69m tonnes.
Compared with August, stocks increased by 1.5%, ending a trend of falling inventories stretching back to March.
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