Nutrien Ltd. said Feb. 1 that it is now fully committed on potash sales to North America through April 2021, in addition to offshore sales volumes with Canpotex. The company said it is significant that these offshore commitments through April do not include any shipments to India or China.
A nationwide truckers strike in Brazil never materialized on Monday, according to Bloomberg, citing the Federal Highway Police. Traffic was normal in the main Brazilian states, including Sao Paulo, Minas Gerais, Parana and Rio Grande do Sul. Representatives from the agriculture sector said there’s no sign of stoppages. In Sao Paulo, a court decision prevented truckers from blocking a key road in the state, according an attorney for the truckers, who was trying to get the decision reversed.
Canpotex, Nutrien, Uralkali and K+S Group have all expressed their belief that the new annual contract price of $247/mt CFR reached between Belarus Potash Co. (BPC) and India’s biggest potash importer, Indian Potash Ltd. (IPL), as announced on Jan. 29, is not reflective of current market trends, and is significantly below current market price levels.
Canpotex said “this would be significantly below current market levels for potash in key offshore markets and a complete disconnect from the strong fundamentals currently being seen for major agricultural commodities in numerous growing regions throughout the world.”
