OREANDA-NEWS. May 17, 2011. The Belarusian government will increase the export duty on potash fertilizers by 25 euros per tonne to 75 euros on June 1, 2011, in accordance with presidential ordinance #179.

The decision is expected to increase state budget revenues.

The Belarusian fiscal authorities suggested raising the duty early in 2011, however, the decision was postponed, because global prices were not growing fast enough.

Potash prices grew to an average USD 367 per tonne in the first quarter of 2011 from USD 300 in 2010.

Belarus first introduced the duty in 2008, when the spot contract price exceeded USD 1,000 per tonne. The duty stood at 200 euros per tonne in October-December 2008.