MOSCOW (Reuters) - Russian potash producer Uralkali (URKA.MM), which has pulled out of a trading venture with its Belarusian partner, is in talks to buy distributors on key markets to maximise sales, the Vedomosti newspaper reported on Monday.
Uralkali quit one of the world’s two big potash cartels in July, heralding a price war and pummelling the shares of companies that produce the crop nutrient.
Distributors would be a part of the company’s new strategy, Vedomosti reported citing two sources - one close to the company’s shareholders and a second close to the company.
Uralkali said last September it was looking to buy a distribution network for its products in China, Brazil and Russia with a view to directly overseeing fertilise shipments.
Uralkali was not available for immediate comment on Monday.
Key customers of Uralkali URKAq.L, part owned by Russian tycoon Suleiman Kerimov, are based in China, Latin America, Southeast Asia, Europe and India. Potash is one of the most-important nutrients applied to crops.
Reporting by Polina Devitt; Editing by Douglas Busvine