Potash Corp. CEO Calls Uralkali Move ‘Dumbest Thing’
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Potash Corp. of Saskatchewan Inc. Chief Executive Officer Bill Doyle said rival potash producer OAO Uralkali’s decision to boost sales volumes at the expense of prices has been self-destructive after the price of the commodity slumped and customers deferred purchases.
Russia’s Uralkali, the world’s biggest supplier, upended the potash market in July when it quit a marketing joint venture with its competitor in Belarus and said it would sell the fertilizer at lower prices.