Potash prices jumped from $504 per ton to $525 last in April, and could hit $800 by the end of the year, according to Scotiabank economist Patricia Mohr. She noted that even at $1,000, potash would only account for 3.6% of farmers revenues on average.
Arizona has large resources in the Holbrook basin that have not been considered economically attractive until recently. Reports are that 14 square miles of state leases have recently been acquired in the area for potash exploration.
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