OREANDA-NEWS. Belarusian potash monopoly Belaruskali said on Thursday there was no need for now to recreate an alliance with its former Russian partner, the world's biggest potash producer Uralkali.

“Today there's no need to create a common trader. If there are conditions for a reunion, why not? There are no such conditions right now,” Valery Kiriyenko, Belaruskali's CEO, told a news conference in the Belarusian city of Soligorsk.

The newly established institution - OAO Belarusian Potash Company, which now acts as a potash trader for Belaruskali, has proved its virtue, Kiriyenko said.

“It is my personal point of view that we should not make the same mistake. Whether we want or not, but both potash manufacturers will keep acting to their own advantage,” Kiriyenko said.

Moreover, Belaruskali plans to launch new mines in 2017-2018 and produce more potash, so there is no need to establish a joint trader, Kiriyenko said.

Uralkali's decision to dismantle one of the world's two big potash cartels pummelled shares of companies that produce potash and heralded a price war for the key crop nutrient.