March 19, 2015 / 2:48 PM / in 3 years

Potash shares fall after Canada tax changes, China supply contract

WINNIPEG, Manitoba, March 19 (Reuters) - Shares of potash-producing companies tumbled on Thursday after the Canadian province of Saskatchewan made a change in the way it taxes them and Belarus settled a supply contract with Chinese buyers at a lower than expected price.

Potash Corp of Saskatchewan , the biggest fertilizer company by market capitalization, fell 3.3 percent in New York in early trading. Germany’s K+S AG was down 3 percent, and Mosaic Co and Agrium Inc dropped 1.7 and 2.6 percent respectively in New York.

Belarus will increase the price of potash exports to China by $10 to $315 per tonne in the first half of this year, Belarussian Potash Co said on Thursday, a rise its biggest rival, Russia’s Uralkali , criticized as too small.

Potash-rich Saskatchewan said on Wednesday it will require potash miners to take tax deductions based on their capital spending over a longer period of time, boosting government revenue by C$150 million ($118 million) a year.

$1=$1.27 Canadian Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Peter Galloway

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below