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Experts urge protection of overseas potash resources

09-06-2010 11:14 BJT

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Experts say China should safeguard its potash resources overseas. They say it's not just for the sake of agricultural security, but also to prevent the monopolization of the global potash industry.

Industry insiders say global mining giants could manipulate potash prices, as they did iron ore, if they continue to acquire companies.

Wu Xihai, Former Chairman of Int'l Fertilizer Association said "BHP Billiton made a lot of money on iron ore over the last few years. They will do the same with potash. These costs will be transferred to Chinese farmers."

Analysts say it is not in the interest of these global giants for China to get their potash resources overseas. Doing so would cause China to reduce potash imports from international companies, and curb the trend of rising prices. Many are calling for China to protect its overseas base.

Zheng Mianping, Academician of Chinese Academy of Engineering said "China's private companies have less support. It needs more support from the government, in the form of financial policies and technologies. It could give us more say on international potash prices."

Some experts suggest introducing a state-owned investment arm to engage in the production of potash. They also suggest stepping up a funding mechanism to support Chinese overseas resources.

Editor:Xiong Qu |Source: CNTV.CN

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