Skip to content
Subscriber Only

Uralkali Breaks Potash Accord to Grab Market Share

OAO Uralkali, the world’s largest potash producer, upended the $20 billion-a-year commodity market by abandoning limits on output that underpinned prices while halting cooperation with Belarus that controlled supplies from the former Soviet Union.

The announcement of the decision yesterday sent shares of potash miners plunging as much as 27 percent from Israel to Germany to Canada and the U.S. as investors speculated a flood of supplies will lead to lower prices for the soil nutrient that strengthens plant roots. Uralkali, part-owned by billionaire Suleiman Kerimov, said it exited its marketing venture with Belarus after its neighbor undermined sales accords.