The slow close for the potash industry in 2013 has been turning around this year as Uralkali posted a 17% increase in revenues for the first quarter of 2014 year on year to $862 million, and states that potash groups may see record sales this year. Industry conditions have been rebounding as buyers, particularly from China, have been replenishing low stocks by placing orders in early 2014 after deferring orders in late 2013. Global potash shipments for 2014 may equal 58 million tons – 7% above 2013 when the dissolution of the Belarusian Potash Company cartel shook the industry. Globally, potash sales are expected to be strong in North America as farmers replenish their soil after record 2013 crops. In South East Asia shipments are expected to increase from 8.1 million tons in 2013 to between 8.4 and 8.7 million tons as oil palm growers invest in inputs to maximize returns. Brazilian imports are increasing at a record pace, and imports to Central America are supported by high prices for coffee. Indian imports are forecast to increase slightly from between 3.5 million tons and 4 million tons to between 3.7 and 4 million tons on the strength of the rupee against the dollar.
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