Belarus, India signed potash deal with 227 USD per ton

Belarusian Potash Company (BPC) has successfully completed negotiations with its long-term strategic partner in India, the company IPL.

Belarusian and Indian sides have signed a contract for the supply of potash to the Indian market for the 2016-2017 fiscal year at a price of 227 U.S. dollars per ton CFR on the terms of 180-day delay, the BPC's press service said on Monday.

Solid volumes to be supplied are 700 thousand tons. The shipments at the new price will start from July 1, 2016.

"The signing of this agreement will contribute to the stability of the Indian market, which is for us an important strategic direction," said General Director of BPC Elena Kudryavets.

Kudryavets said the contract reflects the interests of both producers and importers and end users of potash - Indian farmers, making a substantial contribution to the development of world agriculture.

"The price set in the contract is fair, reflecting the current situation on the global potash market", the statement says.

"The agreement with IPL would be one of the determining factors of development of the industry, will have a positive impact on the entire global potash market in the very near future, will give confidence to all participants, stimulating demand for potash fertilizers," the company' s press-service said.

Last year, the price for potash deliveries was 332 dollars per ton. Endit