FRANKFURT, September 4, 2008 (AFP) - German fertiliser group K+S will join the DAX 30 index of blue-chip stocks, reflecting its growing business as prices for commodities and foods rise globally.

Frankfurt stock market operator Deutsche Boerse said late Wednesday that K+S, originally known as Kalie und Salz (Potassium and Salt), will replace the transport and tourism group TUI.

It is the first commodities stock to be included in the DAX index.

Results at the Kassel-based group, which bills itself as a leading world supplier of speciality and standard fertilisers, plant care and salt products, have climbed along with the rising cost of grains and other commodities.

In the second quarter of 2008, net profit soared some 370 percent to 326.4 million euros (470 million dollars) on sales up 52 percent to 1.18 billion euros.

In 2007, the group posted total sales of 3.3 billion euros.

K+S forecasts a net profit this year of more than one billion euros.

'In recent years, strong growth, in particular in the emerging market countries, has tangibly increased the demand for raw materials and thus also for mineral fertilizers,' it said in a statement.

'The fact that K+S is one of the world?s most significant suppliers of fertilizers and salt is now paying off.'

Major shareholders include the German chemical giant BASF, with a 10 percent holding, and the Cyprus-based fund MCC Holding, also with 10 percent.

Sal Oppenheim analysts noted that the company?s results were impressive but warned that K+S shares could come off the boil if commodity prices began to fall on a sustained basis