Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.

 

World's biggest potash cartel to renew

Published time: December 27, 2013 14:19
White muriate of potash at the finished product warehouse of the mining plant administration Berezniki-4 of JSC Uralkali. (RIA Novosti/Pavel Lisitsyn)

White muriate of potash at the finished product warehouse of the mining plant administration Berezniki-4 of JSC Uralkali. (RIA Novosti/Pavel Lisitsyn)

The new owners of Russian potash producer Uralkali are to resume cooperation with Belaruskali of Belarus, which means the cartel that used to control about 40 percent of world potash exports will be back.

"After the change of owners - shareholders were replaced by Uralchem [the world's second largest ammonium nitrate producer] and interests of Prokhorov [Russian tycoon-turned-politician] - Uralkali is ready to restore cooperation with Belaruskali," the Russian ambassador to Belarus Alexander Surikov told a news conference on Friday.

The Russian side "acted thoughtlessly and did not calculate all the consequences" from the collapse of the potash cartel, but "both sides were to blame," he said.

"The joint marketing of potash fertilisers should be restored. Most probably this would happen," Surikov said, adding that this would be advantageous for both sides.

In late July Uralkali announced it was withdrawing from the Belarusian Potash Company, the Minsk-based venture of Uralkali and Belaruskali, claiming Belarus was delivering potash outside their joint agreement.

At the end of August Uralkali CEO Vladislav Baumgertner was accused of abuse of power and was arrested in Minsk. In late November he was extradited to Russia.

Comments (3)

 

paradigmrespawn 28.12.2013 15:30

Wow - that's a LOT of Potatoes

 

Pete Wagner 28.12.2013 15:21

Jews have proven they cannot responsibly manage Russian resources, and thus Putin is justified in bring the hammer down on them.

 

Enrique 27.12.2013 20:46

The danger for the cartel is that potash can lose market share to phosphate fertilizers if farmers think it is cheaper.

Add comment

Authorization required for adding comments

Register or

Name

Password

Show password

Register

or Register

Request a new password

Send

or Register

To complete a registration check
your Email:

OK

or Register

A password has been sent to your email address

Edit profile

X

Name

New password

Retype new password

Current password

Save

Cancel

Follow us