Ammonia spot deals accelerate on improved supply, but Algerian issues persist
Later today Profercy will publish the latest weekly news and analysis on global fertilizer markets and prices, covering markets worldwide for nitrogen, phosphates, NPKs and potash. While the publications are focused on market developments, some of the latest company news is provided below.
Eurochem seeks London flotation within five years
London’s Evening Standard is this afternoon reporting that Russian fertilizer producer Eurochem is planning to float on the London stock market within five years. Eurochem’s Chief Financial Officer, Andrey Ilyin, informed the London paper that the plans would see a flotation following the opening of two planned potash mines in Russia. The company expects the mines to be operational in 2017 and capable of providing over 8m. tonnes per year. Full details on Eurochem’s potash projects can be found on the Eurochem website and the Evening Standard’s interview with Andrey Ilyin can be found here.
Helm to blend fertilizers at Howdendyke Port, Humberside
Helm Fertilizer Great Britain has announced the signing of a long term agreement with PD Ports Limited for the importing, storage, blending and distribution of fertilizers from Howdendyke Port, Humberside. From Spring 2014, Helm Fertilizers will be blending fertilizers at Howdendyke using technology from Germany, including the first rotary screening system capable of removing dust and oversized particles seen in the UK.
IFFCO criticises proposal to remove Indian urea buy-back policy
Media reports in India highlight that India’s largest fertilizer company, Indian Farmers Fertiliser Cooperative (IFFCO), has criticised a proposal to remove the guaranteed buy-back of urea manufactured by new plants. India’s Business Standard quotes IFFCO Managing Director U S Awasthi who argues that “You cannot have investment policy based on pricing policy. Investment policy should be based investment”. India’s Cabinet Committee on Economic Affairs is yet to review the policy.
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