FARM BUSINESS NEWS
Wed Jan 22, 2014 11:05 AM CST

TORONTO (Globe and Mail) -- The giants of the potash industry are losing their grip on the market.

In a sign that the industry is shifting in favour of the buyer, Russian producer OAO Uralkali took a 24-percent cut in potash prices when it negotiated a semi-annual contract to supply China with 700,000 tons of the crop nutrient.

"This was a very good deal for the Chinese," said Michael Levshin, analyst with Veritas Investment Research Corp. "It's the least China has paid for potash in more than half a decade," he said.

In the past, China and India have tried ...

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