November 18, 2010 / 11:58 AM / 9 years ago

Russia Silvinit Oct potash output fell 13 pct y/y

MOSCOW, Nov 18 (Reuters) - Russia’s Silvinit SILV.MM said on Thursday its potash production declined almost 13 percent to 387,000 tonnes in October 2010 compared to the same month last year, without explaining the reason for the decline.

The total potash output of Silvinit, Russia’s largest potash producer, rose almost 55 percent to 4.35 million tonnes in the first ten months of 2010 year-on-year, the company also said on its web-site.

Kremlin-friendly tycoon Suleiman Kerimov holds stakes in both in Silvinit and its main domestic rival, Uralkali (URKA.MM).

Russia, one of just 12 potash-producing nations, is taking centre stage in the battle for control of the global fertiliser market thanks to recent moves by Kerimov to consolidate the sector [ID:nLDE67F0DD].

The combined company would be the world’s second largest producer of potash — a key fertiliser component — and would rival Canada’s Potash Corp POT.TO.

Reporting by Katya Golubkova; Editing by William Hardy

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