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Russia's uralkali has dismantled the world’s largest potash cartel in a move that could slash potash prices by 25%.
Breaking up the Belarus Potash Co. (BPC), a joint venture with Belarussian partner Belaruskali, by Uralkali could cause a price war, lead to cancellations of mining projects by rivals and give farmers better price deals, Reuters reports.
North America’s Canpotex is now the dominant potash export venture. BPC and Canpotex had accounted for 70% of global trade in potash.
Uralkali says it pulled out of the joint venture after reaching a deadlock over sales, and will export potash via its Swiss-based Uralkali Trading, chief executive Vladislav Baumgertner says.
The decision may lead to a fall in the global potash price to below $300 per ton in the second half of 2013 from the current $400, Uralkali reports.
“In the near future, we expect global competition to become stronger and that will push prices down,” Baumgertner said.
Spectrum Seed received approval from the Association of Seed Certifying Agencies to implement a quality program for non-GMO seed corn. The program will set quality standards for the Spectrum brand and give farmers access to a list of premium opportunities.
Redshield Technology introduced SoilSens, a patent-pending portable machine that mixes a fresh soil sample with de-ionized water to measure the number of nitrate ions present in less than 5 minutes.
Hiniker released its 8160 Automatic Rate Controller for chemical, liquid fertilizer and anhydrous-ammonia application. It uses a minimum-flow feature to prevent…