Potash is expected to drop by 15.5% in the first half of the year
Information from the Canadian potash market, due to high potash stocks, is expected to drop by 15.5% in the first half of the year. It is understood that the level of potash stocks in North America in April is 25% higher than the average level in the past five years. This is mainly due to the weakening of agricultural product prices in North America last year. Distributors generally reduced potash purchases this year. At the same time, workers of the Canadian Pacific Railway Company went on strike in March, and potash transportation stopped for a week. It was more difficult for customers to transport these materials. Currently, Canada Potash Corp. and Canadian Mosaics Co., Ltd., the two largest potash fertilizer producers in the world, have fallen to the lowest level in 22 months. Robert Winslow, analyst of National Bank of Canada Financial Analyst, estimated that due to the strike of railway workers and the fall in food prices, the production and sales of North American potash companies in the first half of the year were not optimistic. In the first half of the year, potash prices would fall by 15.5%.
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