Belarus won’t tax potash exports in 2015
Belarus has decided not to re-introduce in 2015 an export duty on potash that was cancelled last year, Finance Minister Vladimir Amarin told BelTA News Tuesday.
The nation first cut export tariffs to zero in September 2013 after the breakup of a trading alliance with Russia’s Uralkali (MCX:URKA)(LON:URALL) ended a partnership, which controlled two-fifths of the $20 billion global potash market.
Potash prices have gradually improved this year, yet they below July 2013 levels, right before the Russian producer announced a plan to break up a cartel-like marketing group and max out its production.
Uralkali later abandoned those plans, but potash producers have struggled ever since to push through higher prices.
Experts now predict some steep recovery as last month’s massive accident at the miner’s Solikamsk-2 operation is expected to significantly affect global supply.