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The Indian government proposed cutting its potash subsidy by 17% to reduce fiscal debt. Higher import costs would reduce Indian potash demand, which is about 4 million tonnes a year and fully imported.
Potash prices were hovering just above $200 a tonne, more than half their level of five years ago.
A lower subsidy would raise India's landed potash costs and weaken its purchasing power in new contract talks. That would likely push potash prices lower, hurting producers such as Canpotex members.
mining.comMINING.COM Staff WriterFeb 20, 2017Not 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.
