Potassium Chloride Traders Observe Low Price Trend as Downstream Procurement Fall
- 21-Feb-2023 3:32 PM
- Journalist: Jai Sen
The purchase of fertilizers, pesticides, and dyestuff industry depleted in Canada, driven by a pullback from Nutrien of 3.9%, and for the upcoming months, earnings are forecasted to plummet the prices of Potassium Chloride. The major industries are generating low sales, subsequently depleting their profits in Canada. The downstream procurement depleted, so the costs of Potassium Chloride plunged, pulling down the market of the product.
The market value of Potassium Chloride plummeted in the Canadian market, with prices ranging at USD 595/ton Technical FOB Vancouver as per ChemAnalyst Research Team Data. Just because the freight charges from and to the US West coast and China fluctuated with variations in the logistical patterns, the costs orientation of the supply chain in Canada was impacted. While the supply chain situation, in general, was moderate enough to trade the goods from and to the US West Coast (Vancouver), the logistics industry was facing a slight downfall affected by the procurement of Potassium Chloride. The supply of Potassium Chloride exceeded the demand for Bulk Chemicals in Canada.
The Bulk Chemical industry of Potassium Chloride was affected, and the inventories of the commodity were rising with the suppliers just because the utilization of the categorized product de-escalated. However, neither was there a shipment shortage nor an abundance, keeping the trade on track and maintaining the product's availability within the purchase limits. However, the Global Container Index changed by a percentage turnaround of 1%, as quoted by the traders.
Falling in freight charges contributed to bringing down the prices of Potassium Chloride in Canada, influencing the market expenses of Bulk Chemicals. These factors explain why the major manufacturer Nutrien, saw a plunge in their earnings in the regional market. Investors are pessimistic about the Canadian Fertilisers and Agricultural Chemicals Industry, indicating they anticipate long-term growths which are lower than they have been historically.