BPC (Uralkali's export trader and a 50% joint venture with Belaruskali) has informed Uralkali of a new price increase in the spot markets of Asia and Latin America. The new price level in Asian markets will be USD 1000 pmt CFR for Standard MOP. And the price in Brazil will be USD 1000 – 1010 pmt CFR (Cost and Freight) for Granular MOP (depending on the customer size). The new prices have been established for shipments from the 1st of July, 2008 onwards.
Vladislav Baumgertner, President, General Director of Uralkali:
These price increases are driven by the continuous growth of global demand, historically low inventory levels and unprecedented tightening of the supply for the remainder of 2008 after the agreements reached by the Company in China and India.