Nutrien Ltd

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Uralkali-China Contract Affirms Our View for Lower Potash Prices in 2024

Seth Goldstein

Jul 9, 2024

Commodity data firm ICIS reported that Russian potash producer Uralkali agreed to a potash contract with Chinese importers at a price of $273 per metric ton. We think this deal will set the contract price for Canpotex (Nutrien and Mosaic's potash export joint venture) contracts with China and India this year and will set a floor price for the potash spot market. The price was in line with our view that potash contract prices would fall to a range of $270-$300 per metric ton, down from the prior China contract price of $307 per metric ton in 2023.

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Uralkali-China Contract Affirms Our View for Lower Potash Prices in 2024

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