February 15, 2012 / 1:17 PM / 6 years ago

UPDATE 1-North American potash inventories jump in January

TORONTO, Feb 15 (Reuters) - North American potash inventories at the producer level rose about 20 percent in January from the previous month even as top producers to cut production following a sharp decline in global farm-level demand for the crop nutrient.

According to the latest monthly data released by Potash Corp , the world’s largest producer of the nutrient, potash inventories in North America rose by 510,106 tonnes to about 3 million tonnes, as of Jan. 31.

Inventory levels of the nutrient in the region now stand 32 percent above the prior five-year average, as large buyers like China, India and Brazil have for the most part stayed out of the market. (Reporting By Euan Rocha)

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