Potash prices for export drop by 10.7% in March - Econ Min
MOSCOW. April 26 (Interfax) - Prices for potash fertilizer for export dropped by 10.7% in March in comparison with February after high growth in January-February 2011, the Economic Development Ministry said in its materials.
The drop in prices was driven by a differing ratio between total exports at present and earlier signed agreements, as well as spot transactions, the materials said.
Production of mineral fertilizers in January-March went up by 9.9% year-on-year. Production of nitrogenous fertilizers went up by 10.4%, phosphorus fertilizers - 11.5% and potash - 8.6%.
According to Russia's State Statistics Service (Rosstat), exports of fertilizers increased by 6.1% to 4.17 million tonnes in January-February 2011. According to the agency, agro-producers have acquired 936,600 tonnes of mineral fertilizers as of April 13, which is 3.9% under the results for the same date in 2010. Accumulated mineral fertilizer resources (including leftovers from 2010) come to 1.127 million tonnes.
Prices for nitrogenous fertilizers for export dipped by 1.5% in March in comparison with the previous month while prices for complex fertilizers went up slightly after an unsubstantial slip in February.
Prices for phosphorus fertilizers on the Russian market has shown overall stability since January 2011 and only increased by 0.1% in March in comparison with February. Potash prices, after increasing in January-February, fell by 9.5% in March owing to a slip in prices for exports. Prices for complex fertilizers in March went up by 0.4% after a slight decrease in February.
Since the start of the year, prices for nitrogenous fertilizers went up by 6.6% in March to 7,363 rubles per tonne, phosphorus - up 0.4% to 9,532 rubles per tonne, potash - 12.6% to 8,020 rubles per tonne and complex mixes - 3.3% 12,958 rubles per tonne.
Prices for fertilizers for domestic agricultural users showed stability throughout March. Prices for nitrogenous fertilizers went up by 2.7% in comparison with February, phosphorus - 0.5%, potash - 0.3% and complex mixes - 0.7%. At the same time, prices did not top the declared maximum level for prices in the first quarter of 2011.
