Indian Potash signs 8-lakh-tonne potash deal with Ural kali

摘要

In the first major fertiliser import contract for the new financial year, Indian Potash Ltd. (IPL) has signed a deal with Uralkali to source eight lakh tonnes of potash at $322 a tonne. This price is 25% lower than last year's $427 signed with the erstwhile Belarus Potash Company (BPC), the joint venture marketing arm of Russian potash majors Uralkali and Belaruskali. The break-up of the Russian potash cartel in July-August last year after disintegration of BPC is seen helping Indian buyers negotiate a better deal.