North America fertilizer inventories fell in November
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North American inventories of potash, diammonium phosphate (DAP) and urea fell in November in response to weak market conditions.
North American inventories of potash at the end of November were 3.2m tonnes, down 146,000 tonnes from October, but 89% above the 5-year average of 1.69m tonnes.
Inventories of DAP at the end of November were 450,000 short tons, down 18,000 short tons from October, and 34% below the 5-year average of 603,000 short tons.
Urea inventories were 275,000 short tons, down 123,000 short tons from October, and 12% below the 5-year average of 312,000 short tons.
PotashCorp and other potash producers cut production significantly in 2009, anticipating supply and demand would return to balance as farmers responded to crop nutrient needs and lower prices.
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