Mosaic Says China Potash Price More Likely to Rise

China, the world’s largest potash consumer, is more likely to pay a higher price for imports of the fertilizer after grain prices soared because of a drought in the U.S., according to Mosaic Co.

Corn futures have jumped 52 percent in Chicago in the past month and soybeans have climbed 21 percent as the worst U.S. drought in a generation damages crops. Mosaic Chief Executive Officer Jim Prokopanko said that will influence talks currently in progress between China and North American potash suppliers about a six-month supply accord.