Potash shares drop over end of cartel


Shares in the world’s leading potash firms plunged Tuesday after Russia’s top producer of the fertilizer announced it was cutting links with its Belarusian partner and triggered fears of a price crash.

The announcement by Uralkali was seen by the market as representing an end to the cartel-like system that has supported the global potash market and heralding a possible crash in prices of the mineral.

Uralkali itself said it expected that increased competition in the market and warned the potash price could potentially fall to $300 (€225.6) per ton by the end of the year from the current $400.