Benzinga | Jun 23, 2021 04:17PM EDT

Intrepid Potash Reports $90 Increase In Potash Price, $35 Increase In Trio Price

Intrepid Potash Inc. (NYSE:IPI) ("Intrepid") today announced the following increase to its potash and Trio(r) pricing.

* In response to recent increases in the barge and inland warehouse potash markets, Intrepid increased its potash price by $90 per ton at all locations and for all product grades. Intrepid is now posted at $250 per ton above 2020 summer-fill price levels.

* Effective June 23, 2021, Intrepid increased its Trio(r) price by $35 per ton on all products. Intrepid is now accepting Trio(r) orders for Q3 delivery.

"The barge and inland warehouse potash markets have appreciated significantly in the last two weeks due to limited supply and the new posted prices reflect the increase in the spot market since our last price announcement. Higher potash price has also increased the underlying potassium value of our Trio(r) product and we are now accepting orders for third quarter delivery." said Bob Jornayvaz, Intrepid's Executive Chairman, President, and CEO. "Similar to other fertilizer producers, we committed most of our third quarter potash volumes in May during our last price announcement. We are confident in our distribution network and well positioned to supply our customers when the fall season begins."

Jornayvaz continued, "Our previously scheduled oilfield investor day call in June has been postponed due to expanding development plans and evolving recycling opportunities from numerous operators requesting Intrepid services. We are now planning a Potash/Trio(r) investor day in October and a ESG presentation in November."