Chinese potash importers agree to huge price rise

mattduke · Light Sweet Crude Joined: Oct 28, 2005 Posts: 1326

Chinese fertilizer importers agreed on Wednesday to pay more than triple what they did a year ago for potash imports.

North American exporter Canpotex has agreed to sell potash in 2008 to Sinofert Holdings, the largest distributor of fertilizers in China, for $576 per tonne, a whopping $400 per tonne higher than the price it paid a year ago.

reuters.com

thylacine · Heavy Crude Joined: Jan 19, 2006 Posts: 113

Business Spectator

Aussie miners certainly seem to be sticking it to the Chinese and Japanese steel mills at the moment with talk of 300% increases in the price of coking coal and 60+% increases in iron ore. Making hay while the sun shines is a phrase you often hear throughout the mining industry.

kpeavey · Expert Joined: Oct 04, 2004 Posts: 1235

I've been working at a phosphate plant the last couple of months. The pitch is almost feverish. New projects being announced every couple of days. Most of the last 3 years I'd work on projects at this plant maybe 6 weeks a year. I don't think I'll have more than 4 days off between now and August.

This plant is 50 years old. They had shut down one particular section 3 years ago. It is being brought back online to service phosphate rock which will be brought in from South Carolina, just to produce a chicken feed ingredient. All the ore produced at the mine serving this plant is being used for fertilizer production. They can't dig it out of the ground fast enough. Once back online I'll be there an additional 2+ weeks every 3 months.

While I'm not privy to the details on production rates, demand rates or pricing for their product, it is clear that demand is way up.
_________________
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984

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Accept the Facts.

Starvid

That's what happens when 2-3 billion Asians start moving.
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Peak oil is not an energy crisis. It is a liquid fuel crisis.

misterno

Somebody has to stop Chinese from eating

Otherwise we will all starve

Starvid

If you by "we" mean the Africans, then sure. But we're the richest people around, and will always eat more and better than the poorer ones, like the Chinese.
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Peak oil is not an energy crisis. It is a liquid fuel crisis.

cube · Fusion Joined: Mar 12, 2005 Posts: 3561

I just did a google search for world population projection
and the new number is 9 billion by 2050

I could of sworn a couple years ago the number was "projected" to be 10 billion. Looks like we lost 1 billion people already. Smile

auscanman

The good times in Saskatchewan are only going to get better with this news! It has by far the largest deposits of potash anywhere in the world, and is already the Canadian province with the fastest growing economy.

rockdoc123 · Light Sweet Crude Joined: May 16, 2005 Posts: 1676

Ahhh crap....who knew? I sold all my POT (saskatchewan potash corp) at $110.....it's now up at $200:-(

wisconsin_cur · Moderator Joined: May 10, 2007 Posts: 2918

In case American readers are wondering how much their local farmers depend upon fertilizer for their yield:

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grommit

"Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable."
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