Bloomberg News

Uralkali Faces Antitrust Probe Over Russian Potash Prices

October 24, 2011

(Updates with Uralkali comment in last paragraph.)

Oct. 24 (Bloomberg) -- Russia’s antitrust watchdog opened a probe into OAO Uralkali, the world’s biggest potash producer by volume, over increases in its domestic prices for the soil nutrient, following complaints from unidentified customers.

The increase doesn’t correspond to Uralkali’s cost growth and there are signs that the prices are “monopolistically” high, the Federal Anti-Monopoly Service said today on its website, after analyzing data from fertilizer producers.

Uralkali said it will cooperate in full on the investigation. “Uralkali believes that it supplies potash to the domestic market in full compliance with current legislation,” the company said today in a statement.

--Editor: Torrey Clark

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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