Markets

Ethiopian Potash Corp Up 16%

Ethiopian Potash Corp (FED.V) is up 12 cents at 87 cents and has touched a day high 90 cents with around 2.4 million shares traded although there is no apparent fresh stock specific news around.

Bloomberg reported last month that K+S AG, Europe''s largest potash miner, is set to increase prices for the crop nutrient further to secure revenue growth as investments to reduce environmental harm curb capacity.

"Wholesalers are extremely positive on business," Joachim Felker, the board member responsible for the company's potash operations, reportedly told journalists at an event at a potash mine in the German town of Merkers yesterday. New "orientation" for prices will be communicated after Easter, he reportedly said, adding no German wholesalers "believe there will be no further price increases this year."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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