Uralkali Cutting Potash Output 40% on India, China Delays
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OAO Uralkali, the world’s biggest potash producer by output, is cutting first-quarter production by about 40 percent from a year earlier after China and India postponed purchases and may further reduce a 2012 target.
India resumed potash purchases this month while asking to extend the first-quarter schedule until August, Oleg Petrov, Uralkali’s director of sales and marketing, told reporters today in Moscow. This means a delay in sales of 600,000 metric tons to 700,000 tons that Uralkali’s Belarusian Potash Co. trader had planned for the first three months.