I agree that Canada is ELM's opposition. That's for sure.I even...

I agree that Canada is ELM's opposition. That's for sure.

I even said on one of my previous posts that BHP could buy ELM to use as a cheap potash resource for competing to Canadian companies.

However I also said before that China is not as short as South American and Indian markets for potash. So I don't see China as the major market for potash. (China needs about 9mt, produces 3mt, and another 3mt will be produced soon from a big project in 2012, and they will be short only for 3mt)

Indian market buys 5mt potash each year and produces nothing. Their purchases even didn't go back at all during and after GFC.

Canada's biggest customer is US. PotashCorp mainly sells to US. China buys mostly from Russia at cheap prices.

So we haven't got much chance in China.
South American market also buys about 6mt and this may go up to 9mt soon.

So our major markets should be considered as India and South America IMO.