Potash Prices Head For 20 Pct Drop After Cartel Disintegrates

LONDON: Potash prices are poised to drop some 20 percent after the surprise breakup of the world's largest producer cartel sent buyers and sellers scrambling to establish new valuations, traders said.

Global trade in the material - one of three nutrients vital for agriculture - remains largely on ice after Russia's Uralkali in July quit the partnership Belarusian Potash Co (BPC), which together with a rival North American cartel controlled some 70 percent of the market.