* Inventories 43 pct above 5-year average
* Contract delays with China, India cause supplies to grow
Nov 20 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
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
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.