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November 2009

Ally

Research Assistant
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Mar 24, 2009
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News articles for November 2009.
 

Ally

Research Assistant
Registered
Joined
Mar 24, 2009
Messages
16,743
Plunging Potash sales hammer Saskatchewan

WINNIPEG -- Potash sales in the Western Canadian province of Saskatchewan, one of the world`s richest sources of the crop nutrient, have dropped to their lowest level in 37 years, punching a $1.8-billion hole in its budget.

Saskatchewan was expecting $1.9-billion in potash revenue when it set its 2009-10 budget in March, but slashed that estimate to $637.6-million in mid-August. Now it expects to take in just $109-million, its lowest revenue from the fertilizer in 13 years.

"I said when I tabled the budget that the one thing that was going to keep me awake was potash," Saskatchewan Finance Minister Rod Gantefoer told reporters in the provincial capital of Regina while giving his mid-year financial update.

"I didn`t think it would end up turning into a bit of a nightmare."

Mr. Gantefoer projects 2009 Saskatchewan potash sales of 4.4 million tonnes, its smallest output in 37 years.

Read the full article here.
 
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