UPDATE 1-Uralkali raises spot potash prices to $1,000/T

(Adds analyst comment, share prices)

MOSCOW/MINSK, April 23 (Reuters) - Russian potash miner Uralkali (URKA.MM) has said it will charge about 50 percent more for spot sales of the mineral fertiliser to Asia from July 1, citing tight supply as global demand rises.

Uralkali (URKAq.L) said its export trader, Belarusian Potash Co (BPC), would raise its spot price to Asian markets to $1,000 per tonne on a cost and freight basis.

Prices to Brazil from July 1 would rise to $1,000-1,010 per tonne, an increase of 65-66 percent on the current quarter.

"These price increases are driven by the continuous growth of global demand, historically low inventory levels and unprecedented tightening of supply for the remainder of 2008," Uralkali President Vladislav Baumgertner said in a statement.

The announcement late on Tuesday follows last week's deal by the world's leading potash miners to triple term prices to leading consumer China, sending fertiliser company stocks to record highs. [ID:nN16469803]

"The world market could not help but be affected by the long-term contracts agreed by leading potash fertiliser importers in the main markets of China and India," BPC head Vladimir Nikolayenko said in a separate statement.

Moscow-based brokerage Troika Dialog said the Chinese and Indian contracts had absorbed a substantial proportion of world supply, meaning less would be available for spot sales to Brazil and Southeast Asia.

"There is a supply-side deficit prevailing on the global potash market as the two largest consumers, India and China, have both recently concluded yearly agreements for supplies of potash (at conditions almost certainly dictated by producers)," Troika said in a note.

Uralkali's London-traded stock equalled its record high of $61 on Wednesday, valuing the company at three-and-a-half times' its worth during a share placement in October 2007. By 1230 GMT, it was up 0.9 percent at $58.5.

Uralkali's controlling shareholder, Dmitry Rybolovlev, ranked joint 12th on Forbes magazine's annual list of Russia's richest businessmen published on Friday.

Belarusian Potash Co is a 50-50 joint venture between Uralkali and Belaruskali. It exported around 12 million tonnes of potash last year, mainly to China, India and Latin America.

Rival Russian producer Silvinit (SILV.RTS) rose 4.5 percent on Wednesday.

Other producers, including Canada's Potash Corp (POT.N) (POT.TO) and Agrium Inc (AGU.TO) and U.S.-based Mosaic Co (MOS.N), were also indicating up in pre-market trade. (Reporting by Robin Paxton and Andrei Makhovsky; editing by Chris Johnson)