Snowy that 3 year cycle is drought dependant but generally accounts for 600MT in Aust. Yep there tends to be a glut in inventories every 10 years or so last 2 were 1997 & 2008 [guess when El Nino peaks were]. Here is a little background for you. Potash is not a sudden new fad - mid last decade the UK govt recognised the limits to their domestic reserves and that there are no substitutes for potassium and went on a Potash hunt. Their principle mine @ 55% UK share is Yorkshire Boulby mine is now operating at 4000ft and will probably eventually mine under sea deposits. Now I won't bore you with US's corn requirements but that reliance = potash reliance. Here in OZ the UK based Sirius Exploration Plc took over AUS/Qld Potash - that was a wake up and now Aust firms are looking OS for opportunities - go figure. It is now recognised that a new mine is now required EVERY year - year in year out to account for world growth in potash consumption.
Hot Air - well if you want you can DIY Potash it involves a bit of heat and a six-pack - Drink the six-pack [mandatory ingredient] and then burn some umbrella trees and boil the ash in a copper - or just invest in a Potash concern and buy a bag of Yates
FMJ Price at posting:
$2.58 Sentiment: Hold Disclosure: Held
