Leading potash producer Uralkali’s net revenue increased 28% to $3.18bn in the nine months to September 2011 year on year, with potash prices averaging $342/tonne, it said Wednesday.
Uralkali explained that strong demand for fertilisers between January and September 2011 enabled the company to work at almost full capacity - 8.1m tonnes at an average export price of $342/tonne muriate of potash (MOP) on a FCA basis. This is $18/tonne higher than the H1 average export price which reflects the ongoing upward price trend in all major markets.
Demand from China and Southeast Asia was particularly strong during 9M 2011 with the two regions representing 20% and 23% of Uralkali and Silvinit’s total sales, respectively.
During that time, the Russian market “showed steady demand growth” accounting for about 17%...