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Indian Potash Ltd expects India's potash consumption to fall to 3 million tons in the year through March 2023, down from 5 million a year earlier, as farmers cut use due to high prices. Indian Potash agreed to buy potash from Israel, Canada, Jordan and Germany at $590 a ton including freight, up from about $445 last year, while Russian and Belarusian supplies have stalled over payment issues.
Demand destruction in a major importer tempers global potash prices, but supply constraints from Russia and Belarus keep the market tight and costly for buyers of potash-based fertilizer and feed-crop inputs.
business-standard.comPratik Parija, BloombergSep 28, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
