Another Bullish Sign For Potash Demand Emerges (POT, MOS, AGU, CF, MON, IPI)
In the latest sign that producers are expecting global demand for crop nutrients to surge this year, Russia’s OAO Uralkali said its Belrusian Potash Co. will raise prices in May for Brazilian customers, news that has the Agricultural Chemical and Fertilizer Stocks Index trading higher by 1.1%.
Amid surging prices for agricultural commodities, farmers are looking to boost crop yields, opening the door for fertilizer makers to raise prices. Belrusian Potash will charge up to $525 per metric ton of Potash in May up from a prior price of $475, Bloomberg News reported. Uralkali raised prices for Chinese customers by 14% in January to $400 per metric ton.
The Uralkali news is proving to be a boon for North American fertilizer producers. Potash Corp of Saskatchew (POT) and Mosaic Company (MOS), the two largest North American potash producers, are both higher by 3% today. Agrium (AGU) and CF Industries Holdings (CF) are higher by 2% while Monsanto Company (MON), the maker of genetic seeds, is up 1%, as is Intrepid Potash (IPI).
Investors can track the Agricultural Chemical and Fertilizer Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
(POT) Potash Corp of Sakatchewan Hikes Dividend by 33% (Stock Blog Hub, 2/25/13)
Where Is This ETF MOO-ving? (The Market Financial, 2/12/13)
Dahlman Rose Reiterates Hold Rating on Potash Corp. (POT) (Benzinga, 11/4/10)
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