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Vale's potash operations in Brazil |
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The fertiliser industry, which healthily headed back to pre-crisis levels during 2011, is starting to experience the effects of the global economy weakened by the European debt crisis, the slowdown in China and the recent downgrade of the US debt, in addition to major markets such as India putting downwards pressure on prices.
After announcing in positive forecasts for the industry along with plans for dramatic capacity increase in Q4, some major fertiliser minerals producers had to reconsider their estimates and take measures in order to adjust their production to a slowdown in demand.
These included Russia’s PhosAgro and US-based The Mosaic Co., along with Canada’s Potash Corp. of Saskatchewan for its mines in Allan, Lanigan and Rocanville.
In December in a television interview, Vladislav Baumgertner,...