Mosaic’s chief financial officer also questioned the events, according to Reuters: “It seems there’s a feud underway between Uralkali and Belaruskali and the rest of the industry’s caught up. We’re still trying to sort out what Uralkali intends to do, which may be different from what it says it will do.”
"Analyst Jacob Bout of CIBC World Markets questioned whether Uralkali really wants to end the cartel.
“Breaking apart the ‘oligopoly’ is the worst-case scenario for the potash industry (and we know that URKA has a flare for dramatic),” Mr. Bout said.
“Likely this announcement is a ploy by URKA to force Belaruskali (the other part of BPC) to a settlement under URKA’s terms,” he added.
“When the potash industry is in a 15-per-cent to 20-per-cent oversupply situation, it doesn’t make a lot of sense to break up the ‘oligopoly’ for a few more tonnes of market share.”
A spokesman for Potash Corp. told The Canadian Press the Saskatchewan company is still studying what happened, while an Agrium spokesman pointed out to Bloomberg that “this is not the first time that Russian producers have had disagreements.
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