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Market participants expect 2021 potash demand to exceed 2020 levels as Covid-19 disruptions ease. Argus forecasts global MOP demand of 69.2mn t in 2021, up from 66.9mn t this year, and expects China and India contract prices to rise by $5-15/t from $220/t and $230/t cfr.
Several potash projects completing in 2021 will add supply to a market already considered glutted.
Expected demand growth and a likely rise in China and India contract prices support potash prices into 2021, though new capacity may cap gains and affect feed-mix input costs.
news.agropages.comDec 21, 2020Not 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.
