Belarus potash market raises red flag due to sanctions on the country
Feb, 18, 2022 Posted by Gabriel MalheirosWeek 202207
Amidst a context of tensions between Russia and Ukraine, mismatched information, and never-ending news, an official statement by Belarus Potash Corp. (BPC) released on Thursday, February 17, informing that the company will no longer abide by some contracts began to, once again, worry potash buyers. The company decided to limit its services after sanctions imposed by the United States and other countries.
BPC also stated that it will look for alternatives to mitigate the sanctions’ effects on the ports through which it can continue to ship potash abroad, as the Lithuanian port of Klaipeda will no longer be available.
According to a report in the international outlet FertilizerDaily, the state-owned company Ukrzaliznytsia announced that will no longer transport Belaruskali potassium chloride through Ukraine due to sanctions imposed by the US.
“This decision will affect the rail transportation of potassium chloride from Belarus to Slovakia, Hungary, Austria, Poland, the Czech Republic, Romania, CIS, and Baltic countries, in addition to the sales to the Ukrainian market,” commented the international portal.
As a result, Belarus potash has once again proven to be a significant point of contention in the international fertilizer market. However, as fertilizer analyst Jeferson Souza of Agrinvest Commodities explains, “a good part of these complications involving Belarusian supply has already been priced in, though I still believe that future complications may arise,” making the possibility of lower prices in the second quarter increasingly difficult.
Soybeans and potash exchange ratios are currently around 27 bags in the port of Paranaguá and 30 bags in other locations, compared to 14.50 bags last year.
Source: Notícias Agrícolas
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