Breaking News

Glaxo to Pay $488.7 Million Fine to End China Corruption Probe
Tweet TWEET

K+S Falls Most in 15 Years on Uralkali Outlook: Frankfurt Mover

K+S AG (SDF) fell the most in 15 years in Frankfurt trading after the world’s largest potash producer OAO Uralkali predicted prices for the crop nutrient will fall about 25 percent as it opts to sell volume independently from a trading group.

K+S plunged as much as 19 percent, the biggest decline since September 1998, to 21.45 euros and was trading down 16 percent at 22.47 euros as of 9:55 a.m. local time.

Prices of potash may fall below $300 a ton after the change in Uralkali’s trading policy, the company’s Chief Executive Officer Vladislav Baumgertner told reporters today by phone. The Russian company is quiting a potash trading venture with a Belarusian potash producer, it said.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.