Japan accepts Potash Price Hike from Canpotex

Negotiations between Canada’s largest potash producer, Canpotex, and Japanese potash buyers (agriculture cooperatives and trading companies) over the January-to-June 2008 price of potash have ended with the Japanese side accepting a price hike of 40 to 50%, the largest in history. Prices have been rising for several years and Japanese negotiators tried to keep prices down for Japanese farmers, but there was little they could do because global demand for potash is high and suppliers are few. Shipping costs have risen drastically as well, and no relief is in sight.

Information summarized from: Kagaku Kogyo Nippo courtesy of Canadian Embassy Translation Services, Tokyo