2010
01.18
01.18
Producers’ inventories for potash, phosphate and urea nitrogen fertilizer fell in December. The latest inventory data could result in a near-term positive market reaction. North American producers’ pending inventory decreased by 422,000tonnes in December, representing the lowest level reached in 2009. It is RBC CM’s understanding that the decline is attributable to both lower production levels and increased product sales. Inventories still remain 45% above the historical 5-year average and RBC CM expects further improvement before spring planting. RBC CM believes spot potash prices could improve over time as demand improves and inventories decline.
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