Uralkali Production Cut 40%

Uralkali is cutting first-quarter production by about 40 percent from a year earlier after China and India postponed purchases, its sales director said.

India resumed potash purchases this month while asking to extend the first-quarter schedule until August, Oleg Petrov said Tuesday. This means a delay in sales of 600,000 tons to 700,000 tons that Uralkali's Belarussian Potash trader had planned for the first three months.

Uralkali expects to sign a supply accord with China in April or May instead of March as guided earlier, Petrov said. "We've started negotiations and indicated that we are seeking a certain price increase," he said.

(Bloomberg)

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