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US/Canada: Potash giants offer millions in cartel settlement with farmers

By  |  January 31, 2013
US/Canada: Potash giants offer millions in cartel settlement with farmers

Canada’s largest exporters of the alkaline potassium compound potash have reportedly reached a deal to settle a lawsuit brought against them by US farmers and buyers over allegations the exporters colluded to raise prices. Potash is vital for farmers as a crop nutrient. Three major exporters were named in cases filed in 2008 in Illinois; collectively they controlled 70 percent of the global market and were accused to acting as a cartel to raise prices in US exportations. Potash Corp., the largest of the group, has announced it settled eight private actions in the US totaling a settlement of nearly $44 million.

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