Global demand for the soil nutrient potash, key for growing crops like corn, looks likely to climb to between 56 million and 60 million tonnes in 2013, depending largely on a potential sales rebound to India, the chief financial officer of Potash Corp of Saskatchewan said on Thursday.
Global potash demand in 2012 looks likely to total around 53 million tonnes, CFO Wayne Brownlee said in an online question-and-answer session.
"The question is, how robust is the Indian response going to be in 2013," he said. "That is going to be the key determinant, but given where grain prices are, food prices are, given the amazing incentive farmers have right now for making a profit in the next 12 months, it looks pretty good."
India is the second-biggest potash buyer globally, but sales slumped this year after its government lowered subsidies for potash and phosphate, making those fertilizers more expensive for Indian farmers. . .View Full Article