FINANCIAL TIMES: One of the two big cartels controlling the potash market has fallen apart after a leading Russian producer of the vital ingredient in fertiliser announced its withdrawal from the group, sending sector share prices tumbling.
In a move likened to a break-up of Opec, the oil producers’ club that controls output, Uralkali pulled out of the Belarus Potash Corporation export cartel after it accused its Belarusian partner of violating an agreement and selling outside the partnership…
Uralkali predicted the potash price would fall 25 per cent after the end of the arrangement. “This is as if Saudi Arabia left Opec – for the potash sector this is huge,” said Jeremy Redenius, an analyst at Bernstein…
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