n american potash inventories fall 15% in july

Source: http://in.reuters.com/article/2012/08/14/potash-markets-idINL2E8JEJ4520120814

North American potash inventories fall 15 pct in July
Wed Aug 15, 2012 4:40am IST

Aug 14 (Reuters) - North American potash inventories at the producer level, a key indicator of market sentiment, dropped sharply in July, according to the world's top producer of the crop nutrient, Potash Corporation of Saskatchewan Inc .

Stockpiles of potash fell 15 percent to 2.5 million tonnes in July from June, the biggest monthly drop of 2012 so far.

Inventories of the crop nutrient at the producer level now stand 30 percent above the previous five-year average, according to data posted on Potash Corp's website.

Spot potash prices hovered below $500 per tonne.

The vast majority of the potash produced in North America is mined in the Western Canadian province of Saskatchewan, where Potash Corp is headquartered. Minnesota-based Mosaic Co and Calgary, Alberta-based Agrium Inc are the other two large potash miners in the province.