Uralkali has entered into an agreement to sell potash to China and India for $290/mt CFR, according to the Russian news media, however, the company says these are small volumes and are substantially lower than traditional contracted deliveries.
“There are signed contracts (on supplies) to China and to India under $290/mt,” Uralkali’s main shareholder Dmitry Mazepin told reporters. “We have signed a small-scale contract on minor volumes to be supplied to China under that price, though it is several times smaller compared with our traditional volumes.”
K+S Group, Kassel reports that production at its Werra plant in Germany has been secured up to and including Dec. 23. The reason for this is the continuous optimization of wastewater management as well as the use of existing possibilities for off-site disposal.
Against this background and assuming a prolonged extreme drought, disposal-related stoppages in production are now only expected to continue over the holidays until Jan. 1. Should significant rainfall occur in the coming days, these stoppages could be further reduced.
Because of this, K+S expects a negative EBITDA effect of a maximum of € 15 million in the fourth quarter of 2018. “We can now confirm our range for the EBITDA of € 570 to 630 million, including this possible additional burden. Thereby we expect an average de-icing salt business in December,” said Dr. Burkhard Lohr, CEO of K+S.
CHS Inc., St. Paul, reported net income for the fiscal year ending Aug. 31, 2018 of $775.9 million, up from the prior year $71.6 million. Revenues were $32.7 billion, up $646 million from the prior year.
“Our fiscal 2018 results show the progress we are making on the priorities we set for CHS,” said Jay Debertin, CHS president and CEO. “Our year-over-year financial performance shows good improvement, our balance sheet is solid, and our relationships with cooperative owners are strong. The diverse CHS business platform allowed us to deliver improved earnings and enables us to return $150 million in cash patronage and equity redemptions to owners even as we navigated challenging market conditions.”
Ag pretax earnings were a positive $74.3 million, up from the prior year loss of $270.1 million. The prior year figure was driven by major impairments.
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