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According to a report published in the Indian Express, the <keyword id="905742" type="ORGANIZATION" weightage="20" keywordseo="Narendra-Modi-led-government">Narendra Modi-led government</keyword> is planning to do away with price controls on urea and repeal an import duty of 5% in order to minimise expenditure on subsidy.

	Expenditure on fertiliser subsidy had increased four times in the last decade as the <keyword id="26374" type="ORGANIZATION" weightage="20" keywordseo="UPA-government">UPA government</keyword> had kept <keyword id="114338" type="UNKNOWN" weightage="20" keywordseo="Urea-prices">urea prices</keyword> below its production cost. It is pertinent to mention here that urea is the most commonly used fertiliser in the country. The newspaper reported that decontrolling of the maximum retail price (MRP) of urea (which is presently Rs 5,360 per tonne) is under consideration of the new government. It also said that the MRP is likely to be raised by about 20% per annum over the next three years.<o:p></o:p>

	Although the cost of urea has increased by merely16.5% since 2000, the cost of non-urea fertilisers has increased by almost three times and “muriate of potash has quadrupled.” Farmers have started using urea indiscriminately due to such an increase in the gap between prices.<o:p></o:p>

	This move is expected to help domestic fertiliser companies like <keyword id="128504" type="COMPANY" weightage="20" keywordseo="Chambal-Fertilisers">Chambal Fertilisers</keyword> and <keyword id="25943" type="COMPANY" weightage="20" keywordseo="chemicals">Chemicals</keyword> and <keyword id="214886" type="COMPANY" weightage="20" keywordseo="Rashtriya-Chemicals">Rashtriya Chemicals</keyword> and <keyword id="2690426" type="COMPANY" weightage="20" keywordseo="Fertilizers-Ltd-">Fertilizers Ltd.</keyword> If the import duty is scrapped, it would help <keyword id="6356687" type="COUNTRY" weightage="20" keywordseo="canada">Canada</keyword>'s <keyword id="402123" type="COMPANY" weightage="20" keywordseo="Potash-Corp">Potash Corp</keyword> of Saskatchewan, Mosaic Co of the United States and Russia's Uralkali. 
	 
	Image: thinkstock<o:p></o:p>

India Mulling To Deregulate Urea Prices, Scrap Import Duty: Report

<div class="image-container float_right" style="width:480px"><div class="image">REUTERS/Vasily FedosenkoA view of waste heaps at the Belaruskali <keyword id="212614" type="COMPANY" weightage="60" keywordseo="Potash">potash</keyword> mine near the town of Soligorsk, some 130 kms (81 miles) south of Minsk, March 17, 2013. For decades two export groups, Belarus Potash Company (BPC), which represents producers in Russian and Belarus, and Canpotex, its North American equivalent, have set identical prices in key markets such as China and India and have often curbed output simultaneously. </div></div>Potash is the key ingredient in fertilizer. We basically can't grow food without it.
Like oil, there <a href="http://www.businessinsider.com/peak-phosphorus-and-food-production-2012-12">is a finite supply of phosphorous and potassium</a>. 
And like oil, the a major portion of the potash market has been controlled by a cartel of Russian, Eastern European and Canadian firms.
Until this week.
Uralkali, the world's biggest potash supplier, announced <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=4&amp;ved=0CEgQqQIwAw&amp;url=http%3A%2F%2Fuk.reuters.com%2Farticle%2F2013%2F07%2F30%2Fuk-russia-uralkali-idUKBRE96T0XM20130730&amp;ei=eQL9UfbbK_XH4APA0ICgDg&amp;usg=AFQjCNEFieWHDXN5g85hN9EyQYL9wozHWQ&amp;sig2=HLiFPFtpg6LMI80J5f9Avg&amp;bvm=bv.50165853,d.dmg">it was leaving Belarus Potash Co</a>, the European side of the potash cartel.
The move sent shares in potash suppliers <a href="http://www.businessinsider.com/why-fertilizer-stocks-are-bloodletting-today-2013-7">tumbling</a>.
<a href="http://www.theglobeandmail.com/report-on-business/top-business-stories/potash-cartel-collapses-it-is-as-if-saudi-arabia-decided-to-leave-opec/article13530911/?cmpid=rss1&amp;utm_source=dlvr.it&amp;_rob_utm_medium=twitter">The Toronto Globe and Mail's Michael Babad says</a> there's an outside chance Urakali is bluffing to force fellow cartel member Belaruskali to get in line.
But if it proves to be true, the price of potash is going to collapse — which would be brutal for the industry, but great for consumers.
Babad quotes Joel Jackson of BMO Nesbitt Burns' price estimate:
Our analysis is preliminary, but our initial bear case is that global price estimates could fall by $100/tonne (down closer to marginal European costs), which will impact all producers, though companies such as [Potash Corp. and Uralkali] have the most spare capacity to partially offset lower prices and might relatively fare the least worse.
Besides shareholders of potash firms, the other big loser would be the province of Saskatchewan, where Potash comprises 18% of all exports, Babad says.

A Russian Megafirm Blew Up The Potash Market This Week, And It Could Be Great For Anyone Who Pays For Food

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersTilk attends the company's annual general meeting in Saskatoon</div></div></div>Potash Corporation of Saskatchewan and Agrium are <a href="http://www.worldclasscropinputsupplier.com/">merging to create the largest</a> crop nutrient company in the world.The deal, valued at $27 billion, will also create the third largest natural resources company in Canada. Bank of America Merrill Lynch and RBC Capital Markets advised Potash Corp. on the deal, while Barclays and CIBC World Markets advised Agrium. Morgan Stanley is a joint financial adviser to both companies.It is expected that Potash and Agrium will each pay around $40 million to $45 million each in advisory fees, according to the consultant Freeman &amp; Co. That would bring the total fees for the deal to close to $90 million.The deal is a boost for Canadian banks RBC Capital Markets and CIBC World Markets, which both have strong advisory businesses in the energy sector. RBC Capital Markets also advised Canadian pipeline company <a href="http://www.enbridge.com/media-center/news/details?id=2083920&amp;lang=en&amp;year=2016">Enbridge on its deal to buy Houston-based Spectra Energy</a>. That deal, valued at $43.1 billion, is the <a href="https://twitter.com/Dealogic/status/773175056704954368/photo/1">third biggest announced mergers-and-acquisitions transaction this year</a>, according to Dealogic.The Potash-Agrium deal is the latest in a series of mega deals involving the global farming sector, including the <a href="http://www.businessinsider.com/ap-dow-and-dupont-set-date-for-shareholder-vote-on-merger-2016-6">pending merger of Dow and DuPont</a>, <a href="http://www.businessinsider.com/chemchina-buying-syngenta-for-43-billion-2016-2">ChemChina's deal for Swiss seeds and pesticides group Syngenta</a>, and <a href="http://www.businessinsider.com/bayer-raised-its-offer-for-monsanto-2016-7">Bayer pharmaceutical's bid for Monsanto</a>, the world's largest supplier of crop seeds and genetics.It also comes hot on the heels of a <a href="http://www.businessinsider.com/string-of-ma-announcements-makes-for-wall-street-payday-2016-9">big week for M&amp;A</a>, with more than $100 billion in deal activity announced in the week starting September 5. It's not all good news for dealmakers, however. German industrial gases group Linde and US rival Praxair said on Monday that they have <a href="http://www.businessinsider.com/r-linde-praxair-end-60-billion-merger-talks-2016-9">ended talks to create a $60-billion-plus market leader</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/krugman-financial-markets-arent-taking-trump-seriously-2016-8">KRUGMAN: Financial markets aren't taking a Trump victory very seriously</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="RrNXdtNTE6A2yVb-FAhQwFsUcSxyV1lf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

WALL STREET PAYDAY: A handful of banks will make a killing on a huge agriculture deal

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Mike Segar/ReutersA fan holds an American flag as paper falls from buildings above during the ticker tape parade for the U.S. women's soccer team to celebrate their World Cup final win over Japan, in New York, July 10, 2015.</div></div></div>Markets finished higher on Monday following dovish commentary from Federal Reserve members.All three major averages finished up by more than 1%, with the tech-heavy Nasdaq being the biggest winner. Monday marked the second straight day the S&amp;P 500 moved by more than 1% after a 42-day stretch without such a move in either direction.We've got the headlines for Monday, but first, the scoreboard:<ul><li>Dow: 18,328.49, +243.04,(+1.35%)</li><li>S&amp;P 500: 2,158.74, +31.29, (+1.45%)</li><li>Nasdaq: 5,209.10, +84.92, (+1.67%)</li><li>WTI crude oil: $46.13, +0.25, (+0.54%)</li><li>10-year yield: 1.675%, (unchanged)</li></ul><ol><li><a href="http://www.businessinsider.com/brainard-says-fed-must-be-careful-to-not-raise-rates-too-quickly-2016-9">Federal Reserve Governor Lael Brainard lowered expectations for an interest rate hike.</a> In a highly-anticipated speech, the Fed Governor said that continued slack in the labor market and weak inflation makes a rate hike "less compelling." Expectations for a rate hike in September fell to 22% from 30% at the start of the day, according to data from Bloomberg.</li><li><a href="http://www.businessinsider.com/trump-says-fed-manipulating-interest-rates-until-obama-out-of-offce-2016-9">Republican presidential candidate Donald Trump said Fed Chair Janet Yellen should be "ashamed."</a> Trump said that the Fed is keeping interest rates low until President Obama leaves office because it is no longer politically independent. Investor and reality TV star Mark Cuban, who has been on a crusade against Trump as of late, used these comments <a href="http://www.businessinsider.com/cuban-trumps-fed-comment-why-the-market-will-tank-if-he-is-elected-2016-9">to continue to bash the Republican candidate.</a></li><li><a href="http://www.businessinsider.com/jamie-dimon-i-would-love-to-be-president-of-the-united-states-2016-9">JPMorgan CEO Jamie Dimon said he would "love" to be president of the US.</a> Speaking to the Economic Club of Washington DC, Dimon expressed his desire for changes to the economic policy of the US. When asked about running for office, he said he wanted to be president, but did not think it was possible.</li><li><a href="http://www.businessinsider.com/r-agrium-and-potash-corp-to-merge-2016-9">Agrium and Potash Corp announced a merger of equals.</a> The Canadian fertilizer and farming companies announced a merger of equals that would create a new firm with an enterprise value of $36 billion.</li><li><a href="http://www.businessinsider.com/microsoft-grabs-hp-from-salesforce-2016-9">HP is leaving Salesforce for Microsoft's new cloud computing tool.</a> HP signed a six-year deal with Microsoft to use its Microsoft Dynamics' to track customer interactions and relationships. The move is a big win for Microsoft's supposed "Salesforce-killer."</li><li><a href="http://www.businessinsider.com/samsung-shares-sept-12-recall-of-the-galaxy-note-7-impact-2016-9">Shares of Samsung got rocked after the recall of its Galaxy Note 7.</a> The new Note 7 was found to have faulty batteries that have caught fire and even exploded. Shares fell more than 5% in trading Monday.</li></ol>Additionally:<a href="http://www.businessinsider.com/indian-oil-demand-seen-to-be-slowing-2016-9">When this happens, you'll know the oil industry is in trouble again</a><a href="http://www.businessinsider.com/goldman-five-reasons-why-the-sp-500-could-fall-1-percent-by-year-end-2016-9">GOLDMAN: 5 reasons the stock market will keep going lower</a><a href="http://www.businessinsider.com/parfot-margin-sign-of-recession-isnt-going-away-2016-9">One of the biggest signs of recession isn't going away</a><a href="http://www.businessinsider.com/wage-growth-slowing-down-in-europe-and-japan-2016-9">Older workers are killing wage growth in Europe and Japan</a><a href="http://www.businessinsider.com/kkr-jamie-weinstein-special-situations-2016-9">Private equity giant KKR is worried about the credit market</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/paul-krugman-economic-risks-donald-trump-presidency-2016-8"> Krugman reveals the economic risks of a Trump presidency</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="UzdXFtNTE6OQ73FsHUs-jBZ0iNhT_DEz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

STOCKS SOAR, DOW GAINS 240: Here's what you need to know

<div class="image-container float_right"><div class="image"><a href="http://commons.wikimedia.org/wiki/File:Eagle%28owl%29-eye_-_modified.JPG">Wikimedia Commons</a></div></div>The U.S. markets are closed. But the rest of the world goes on.
<a href="http://www.stifel.com/">Dave Lutz of Stifel Nicolaus </a>has a roundup of what traders are reading and chatting about as they wait for markets to come back online:
Good Morning! Following is a roundup of overnight Market Action - Key headlines (With Story Links), and this week's calendar. 
Euro Markets are under pressure - weighed down by Banks after DB released early. DAX off 40bp in average trading, but most EU markets trading 30% light to average volumes. EU Fins are retreating, losing 1% on the back of DB's 6% drop overnight. Asian Markets were under pressure on Weak China data - Nikkei lost 60bp, Shanghai lowest in 6 months, and most EM Asia weaker. India's market jumped as the RBI injected capital into their bond Markets. Aussie lost 20bp, but Miners under pressure after recent run on weak China data. China's CDS has jumped 10% overnight on liquidity concerns into the New Year Holiday
The 10YY is slightly lower as Bills have a slight bid in CBOT trading. The DXY is weaker as both the Euro and Yen pop against the Greenback. Platinum is jumping 2% overnight and 7% over the last week (South Africa Strikes). Gold hit a new YTD peak overnight, testing $1260/oz before retreating. Copper and Steel futures remain under pressure (China). The energy complex is mostly red, with WTI off 50bp (Iran deal), but Nat Gas is off 1.5% despite the frigid temperatures in the USA this week. 
 
<a href="http://www.zerohedge.com/news/2014-01-20/market-trading-hours-during-us-holiday" target="_blank">Market Trading Hours</a> During The US Holiday Today
· New York, Chicago trading floors: closed
· CME Equity products closes at 11:30 AM Eastern, resume trading at 6:00 PM Eastern
· CME and CBOT Interest Rate &amp; FX Products close early at 1:00 PM; resume trading at 6:00 PM
· NYMEX, COMEX early close 1:15 Eastern; resume trading at 6:00 PM Eastern
· NYSE Liffe - Normal close
· Eurex - Normal close
 
Summary for the week ahead
· Holiday Monday
· Light US Economics, Highlights: PMI, Existing Homes
· Heavy China Data - GDP, IP, Retail Sales, Flash Manufacturing PMI
· Earnings Season accelerates in Tech
· Bank of Japan and Bank of Canada Rate Decisions
· Bank of England Minutes + Carney Speaks
· AIA architectural billings Index
· Sov Ratings Reviews: France, UK and Germany
 
SOME OF THE HEADLINES TRADERS ARE READING
CHINA / ASIA
· <a href="http://www.telegraph.co.uk/finance/china-business/10583462/China-GDP-grows-as-slowest-rate-since-1999.html" target="_blank">China growth lowest in 14 years</a> - the country's economy grew 7.7pc last year, the same as 2012, which was the slowest since 1999. Gross domestic product expansion for the October-December quarter also came in at 7.7pc, the National Bureau of Statistics said, from 7.8pc in the previous three months.
· <a href="http://www.ft.com/cms/s/0/e82310f6-817c-11e3-95aa-00144feab7de.html" target="_blank">China banks face sub-10% profit growth</a> - Analysts expect single-digit growth for first time since 2005
· China Traders are also anxious about <a href="http://www.ft.com/cms/s/0/7405e1d4-8182-11e3-b3d5-00144feab7de.html#ixzz2qwifb5Te" target="_blank"> tightening credit conditions</a> ahead of the Chinese New Year holiday at the end of the month. The seven-day repo rate rose 145 basis points to 6.6 per cent.
· In a rare accommodative measure, the state-run People's Bank of China is providing short-term cash to the country's biggest lenders, in a move seen as a <a href="http://online.wsj.com/article/SB10001424052702304757004579332213977239226.html?mod=WSJ_hp_LEFTWhatsNewsCollection" target="_blank"> bid to avoid a liquidity crisis near the Lunar New Year holiday</a>
· Crédit Agricole said they maintained a bearish position on the Japanese currency but short-term gains were possible because <a href="http://www.ft.com/cms/s/0/7405e1d4-8182-11e3-b3d5-00144feab7de.html#ixzz2qwifb5Te" target="_blank"> market participants do not see the Bank of Japan easing policy further after Wednesday's policy meeting</a> - "[BoJ governor Haruhiko Kuroda] stressed that the economy is moving smoothly towards inflation as prices will continue to rise for the time being. Under such conditions the central bank is unlikely to become even more aggressive unless sentiment turns sour"
EURO/UK
· The early release of Deutsche Bank's earnings late last night, <a href="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10583174/Deutsche-Bank-posts-shock-1.2bn-loss-for-fourth-quarter.html" target="_blank"> which showed a €1.2bn Q4 loss</a>, weighed on Banks
· According to Sky News, the <a href="http://news.sky.com/story/1197837/imf-upgrades-uk-growth-forecast-above-rivals" target="_blank"> IMF will increase its forecast for UK growth</a> in 2014 from 1.9pc to 2.4pc - The upgrade will be significantly stronger than the upgrade expected for world economic growth.
ENERGY / MENA
· Iran <a href="http://apnews.myway.com//article/20140120/DABEEU4G0.html" target="_blank"> halted its most sensitive uranium enrichment work</a> on Monday as part of a landmark deal struck with world powers, easing concerns over the country's nuclear program and clearing the way for a partial lifting of sanctions, Tehran and the U.N. said.
· Iran said it will attend this week's (weds) Geneva conference aimed at finding a resolution to Syria's war, and that it will do so <a href="http://online.wsj.com/article/SB10001424052702304302704579332253898330382.html?mod=%3C%25mst.param%28LINKMODPREFIX%29" target="_blank"> without agreeing to anything in advance</a> - Syria's main opposition group in exile Syrian National Coalition (SNC) said here on Monday that it <a href="http://news.xinhuanet.com/english/world/2014-01/20/c_133059898.htm" target="_blank">suspends its participation in Geneva II conference</a> due to UN's invitation to Iran.
· Hedge Funds Cut Brent Crude Net-Longs to <a href="http://www.bloomberg.com/news/2014-01-20/hedge-funds-cut-brent-crude-net-longs-to-lowest-in-14-months-1-.html" target="_blank"> Lowest in 14 Months </a>
OTHER COMMODITIES
· Militant union AMCU has today <a href="http://www.telegraph.co.uk/finance/business-news-markets-live/10583365/Business-news-and-markets-live.html" target="_blank"> served notice to strike within 48 hours at South Africa's top platinum mines</a> - Leading producers Anglo American Platinum, Impala Platinum and Lonmin confirmed members of the dominant Association of Mineworkers and Construction Union will start their strike for higher wages at morning shift from Thursday.
· A standoff over cost overruns in the Panama Canal expansion has Panamanians as anxious as the global shipping industry - Panama's plan has suddenly run into rough waters because of ballooning cost overruns. European construction companies hired to expand the canal are <a href="http://online.wsj.com/news/articles/SB10001424052702304027204579330852141445402?mod=WSJ_hpp_MIDDLENexttoWhatsNewsForth" target="_blank"> threatening to bring the project to a halt as soon as Monday</a>
· Bitcoin doesn't meet the definition of a currency or even an electronic payment form in Finland, where the <a href="http://www.bloomberg.com/news/2014-01-19/bitcoin-becomes-commodity-in-finland-after-failing-currency-test.html" target="_blank"> central bank has instead decided to categorize the software as a commodity</a>
· <a href="http://www.bloomberg.com/news/2014-01-20/uralkali-agrees-on-24-lower-china-potash-price-researchers-say.html" target="_blank">OAO Uralkali</a>, the largest potash producer, agreed to supply the soil nutrient to China at a price 24 percent less than a contract that expired in July
· South Korea discovered the H5N8 avian influenza virus in dead migratory birds after <a href="http://www.bloomberg.com/news/2014-01-20/flu-virus-found-in-wild-birds-as-korea-quarantines-farms.html" target="_blank"> confirming an outbreak at two duck farms</a> in the country's south - About 100 dead birds found in a reservoir in North Jeolla province tested positive for H5N8, the Ministry of Agriculture, Food and Rural Affairs, said in a statement today.
· China is abandoning a stockpiling programme that has seen the nation run up an <a href="http://www.ft.com/cms/s/0/5e0333ce-81a4-11e3-a600-00144feab7de.html#ixzz2qwmA3Pr5" target="_blank"> outsized hoard of cotton that it must now sell at a loss</a>, pledging instead to switch to a subsidy system for cotton farmers this year.
ASIDE
· It will be the <a href="http://www.telegraph.co.uk/sport/othersports/americanfootball/10583400/Super-Bowl-XLVII-Denver-Broncos-to-meet-Seattle-Seahawks-after-gruelling-NFL-Conference-finals-wins.html" target="_blank"> NFL's No. 1 offense (Denver) vs. the league's No. 1 defense (Seattle)</a> at MetLife Stadium in New Jersey on Feb. 2.
· Live Blog: <a href="http://thetally.efinancialnews.com/2014/01/hold-fs-fn-davos-2014/" target="_blank"> Davos 2014</a> 
· UBS has struck two deals to <a href="http://www.ft.com/cms/s/0/dd8f6818-79ea-11e3-a3e6-00144feabdc0.html#ixzz2qwjqKqwf" target="_blank"> outsource most of its fixed income trading platform</a> in a radical step highlighting the scale of cost pressures in the investment banking sector - The Swiss bank will replace its patchwork of multiple trading platforms with standardised solutions from technology groups Murex and Ion Trading, people close to the situation said.
· Lenovo Group is in <a href="http://www.bloomberg.com/news/2014-01-20/lenovo-said-to-be-in-advanced-discussions-for-ibm-server-unit.html" target="_blank"> serious discussions</a> to acquire International Business Machines Corp.'s low-end server business, and a deal may be signed within weeks
· Argentina will make an offer to members of the Paris Club on Monday to <a href="http://www.reuters.com/article/2014/01/20/argentina-debt-paris-idUSL5N0KU1YK20140120" target="_blank"> renegotiate the terms of its outstanding debt</a> owed to the group of creditor nations, an Argentine source said.
· FT: US regulators '<a href="http://www.ft.com/intl/cms/s/0/ee99cec0-7f15-11e3-8642-00144feabdc0.html#axzz2quUe2GNH" target="_blank">funded at a level to fail'</a>
· A rising number of economists say the U.S. will reach 3% growth in 2014 for the first time in nine years - but similar predictions have <a href="http://www.marketwatch.com/story/us-seen-on-track-for-best-growth-since-2005-2014-01-19%27" target="_blank"> been dashed in the past few years</a>

You Searched For "Potash Corp" and got 5 results

India Mulling To Deregulate Urea Prices, Scrap Import Duty: Report

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STOCKS SOAR, DOW GAINS 240: Here's what you need to know

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