North American potash stocks swell 7 pct in October

Tue Nov 20, 2012 8:08pm IST

Related Topics

Stocks

   

* Inventories 43 pct above 5-year average

* Contract delays with China, India cause supplies to grow

Nov 20 (Reuters) - North American potash inventories at the producer level, a key indicator of market sentiment, climbed i n October, according to the world's top producer of the crop nutrient, Potash Corp, highlighting slumping demand in top offshore markets.

Stockpiles of potassium chloride, the crop nutrient more commonly known as potash, swelled 7.2 percent to 2.5 million tonnes, according to data posted on Potash Corp's website.

Inventories of the crop nutrient at the producer level now stand 43 percent above the previous five-year average.

Spot potash prices eased to roughly $470 per tonne.

Potash supplies have swollen as top global consumers China and India delay signing new supply contracts with Canpotex, the offshore marketing company owned by Potash Corp, Agrium Inc and Mosaic Co.

Last Wednesday, Potash Corp said it would shut two of its Canadian mines for eight weeks each between December and February, to match supply closer to demand.

The vast majority of the potash produced in North America is mined in the Western Canadian province of Saskatchewan, where Potash Corp is headquartered.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Wilful Negligence?

Wilful Negligence?

SEBI piles pressure on Sahara to sell overseas hotels  Full Article 

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage