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(bloomberg)
-- OAO Uralkali (URKA), Russia’s biggest fertilizer maker, is ready to cut
production to prevent potash prices from falling after Potash Corp. of
Saskatchewan Inc. announced reductions this year.
“Our strategy is that
price is much more important than volumes,” Chief Financial Officer Victor
Belyakov said. “It’s a strategy for most of the big players in the market. We
usually cut some production to come up with a fair price.”
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Russian producers and those in Canada, like Saskatoon,
Saskatchewan-based Potash Corp., account for about 65 percent of global output,
said Mark Connelly, a New York-based analyst at Credit Agricole Securities USA
Inc.
Suppliers are seeking to protect a 45 percent recovery in benchmark U.S.
Midwest potash prices since July 2010.
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“If the Canadian and Russian producers are aggressive in
matching supply and demand, it shouldn’t matter very much what other producers
do,” Connelly said .
mrcplast.com | |
