* North American potash inventories rise in May
* Inventories now 11 pct above prior five-year average
TORONTO, June 15 (Reuters) - North American potash inventories at the producer level rose last month, according to the latest data from Potash Corp (POT.TO), the world's largest producer of the crop nutrient.
Inventories that had fallen sharply over the latter half of 2009 and early 2010, rose by 396,000 tonnes to just below 2.5 million tonnes. Potash inventories at the producer level in North America are now 11 percent above the prior five-year average.
The price of potash -- the common name for various compounds containing potassium -- remained flat at below the $400-a-tonne level, according to the latest data released by the company. (Reporting by Euan Rocha, editing by Maureen Bavdek)