Belarus’ potash fertilizers export up 8.7% in Jan-Oct 2020 to 5.869m tonnes
<p> MINSK, Dec 29 - PrimePress. Belarus increased the export of potash fertilizers in January-October 2020 by 8.7% year on year to 5.869 million tonnes in terms of 100% nutrient content, reads the official statistical report. </p> <p> </p> <p> In value terms, the export decreased in Jan-Oct 2020 by 17.2% year on year to $2.003 billion. </p> <p> </p> <p> The average export price of Belarusian potash fertilizers in Jan-Oct 2020 stood at $341 per tonne, down 23.9% year on year. </p> <p> </p> <p> The decrease was due to the unfavorable price environment in the global potash market since mid-2019. Supply/demand imbalances resulted in a slide in prices. Many major potash market actors, including Belaruskali (Soligorsk, Minsk Oblast), had to reduce output. </p> <p> </p> <p> Belaruskali OJSC (Soligorsk, Minsk Oblast) had to reduce output and only utilize nearly 30% of its capacities from September 2019 to April 2020 due to demand/supply imbalances that resulted in falling prices of potash fertilizers. </p> <p> </p> <p> Besides, negotiations between the Belarusian Potash Company (Belaruskali trader) and China on a new long-term contract were complicated by the COVID-19 pandemic. As a result, Belaruskali did not have long-term supply contracts with China from July 2019 to April 2020, and with India from July to October 2019. The BPC managed to enter into a contract with China as late as the end of April 2020 on supplies at $220 per tonne ($70 below the previous contract price) and with India on May 18, 2020 at $230 per tonne ($50 below the previous price). </p> <p> </p> <p> As reported, Belarus reduced the export of potash fertilizers in 2019 by 5.8% year on year to 6.23 million tonnes in terms of 100% nutrient content. In value terms, the export increased in 2019 by 2.3% yoy to $2.78 billion. The average export price of Belarusian potash fertilizers in 2019 stood at $445.8 per tonne (up 11.3% from 2018). End </p> <p> </p>
2020-12-30
Primepress
MINSK, Dec 29 - PrimePress. Belarus increased the export of potash fertilizers in January-October 2020 by 8.7% year on year to 5.869 million tonnes in terms of 100% nutrient content, reads the official statistical report.
In value terms, the export decreased in Jan-Oct 2020 by 17.2% year on year to $2.003 billion.
The average export price of Belarusian potash fertilizers in Jan-Oct 2020 stood at $341 per tonne, down 23.9% year on year.
The decrease was due to the unfavorable price environment in the global potash market since mid-2019. Supply/demand imbalances resulted in a slide in prices. Many major potash market actors, including Belaruskali (Soligorsk, Minsk Oblast), had to reduce output.
Belaruskali OJSC (Soligorsk, Minsk Oblast) had to reduce output and only utilize nearly 30% of its capacities from September 2019 to April 2020 due to demand/supply imbalances that resulted in falling prices of potash fertilizers.
Besides, negotiations between the Belarusian Potash Company (Belaruskali trader) and China on a new long-term contract were complicated by the COVID-19 pandemic. As a result, Belaruskali did not have long-term supply contracts with China from July 2019 to April 2020, and with India from July to October 2019. The BPC managed to enter into a contract with China as late as the end of April 2020 on supplies at $220 per tonne ($70 below the previous contract price) and with India on May 18, 2020 at $230 per tonne ($50 below the previous price).
As reported, Belarus reduced the export of potash fertilizers in 2019 by 5.8% year on year to 6.23 million tonnes in terms of 100% nutrient content. In value terms, the export increased in 2019 by 2.3% yoy to $2.78 billion. The average export price of Belarusian potash fertilizers in 2019 stood at $445.8 per tonne (up 11.3% from 2018). End