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Russia's Uralkali to redirect potash sales from Asia: Interfax

Reuters  |  MOSCOW 

(Reuters) - Russian producer will redirect its sales to and other markets from and where it says the price for its product is too low, quoted its co-owner as saying on Monday.

Uralkali, one of the world's largest producers of potash, a crop nutrient, usually signs large supply contracts with and India, the world's largest consumers, each year.

However, this year has only agreed a contract to sell "minor volumes" of to for $290 per tonne and does not plan to sign its usual larger contract at such a price because it is too low, was quoted as saying by during his trip to

The price of its small contract with China matches the one at which Uralkali's competitor, (BPC), signed its large annual contract with China this year.

said previously that a price below $300 per tonne was unreasonable for Asian markets including China and India, given robust global trends in potash prices.

Uralkali may also refrain from signing a supply deal with this year, was quoted as saying. A price of more than $310 per tonne would be appropriate for Uralkali in and China, he added.

He did not say what markets along with would be in Uralkali's focus now and what price it was hoping to get for its product there.

Mazepin also said Uralkali and another - - could consider listing their shares, including in Asia, after mid-2019 in case they need to reduce their debt.

No decisions have been taken on the possible listings or their structure as shareholders of both companies are yet to consult with bankers and advisers on this, he added.

(Reporting by and Polina Devitt; writing by and Polina Devitt; editing by and Ed Osmond)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 15:30 IST