Alexander Terletsky, Uralkali Trading’s CEO, commented:
Given the current robust global trends in potash prices, as well increased annual demand of up to 10% of sales in Russia, Uralkali believes that a price below 300 USD/t is fundamentally unreasonable for the Asian markets including China and India.
Our belief is further confirmed by current Asian tender levels and spot sales as well as actual prices in Brazil, which already achieved 350-360 USD/t according to independent information agencies.
In this market, the Company will adhere to its adopted strategy of matching production with price and demand, seeking neither to overproduce nor to sell at unreasonably lower prices than the market indicates.
Our sales in H1 2018 were 5,9 mln tons. We expect that we may continue to adjust our production plans for the foreseeable future in light of these market dynamics.