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Russia: Uralkali halves potash production




The Berezniki based, Russia's second-largest potash producer, Uralkali, responded to weaker global fertilizer demand by halving potash out, canceling overtime, suspending bonuses and shortening working hours. They cut November and December output by 50 percent, resulting in a 10 percent decline for the year as a whole. The 500,000 metric-ton reduction in fourth-quarter output will cut sales by US$650 million. The majority of Uralkaly's products are sold in foreign markets: the firm accounts for about 13 percent of the world potash fertilizer production, 85 percent of the enterprise's output being exported.



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