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K+S, Potash Sellers Sink as Rival’s India Contract Roils Market

Bloomberg – K+S AG, Europe’s largest maker of potash for fertilizers, and competitor Israel Chemicals Ltd. fell in local trading after a Russian rival’s contract in India prompted speculation that prices will come under pressure.

The drop mirrors declines at North American producers Potash Corp. of Saskatchewan Inc. and Mosaic Co. on July 10 after RBC Capital Markets reported that Russian producer OAO Silvinit may have sold the crop nutrient for less than analysts expected. K+S lost as much as 5.4 percent and the Israeli company dropped 3 percent.

Soros Fund Management LLC, billionaire investor George Soros’s hedge fund firm, owns about 1.9 percent of Potash Corp after reducing the stake to 5.6 million shares at the end of the first quarter from 5.9 million at the beginning of the year.

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