The Belarusian Potash Company (BPC) has signed a contract with India's IPL to ship 700,000 tonnes of potash fertilizers in 2016-2017, BelTA learnt from the BPC press service.
The talks with the BPC's long-term strategic partner in India, IPL, concluded on 27 June during a visit of the BPC representatives to New Delhi. The contract envisages the supply of potash fertilizers to the Indian market at the price of $227 per tonne on CFR (Cost and Freight – BelTA's note) terms in 2016-2017. New shipments will start on 1 July.
Director General of the Belarusian Potash Company Yelena Kudryavets noted that the agreement would promote stability of the Indian market, which is an important strategic area for the BPC. “The contract reflects the interests of manufacturers, importers and end-users of potash fertilizers, namely Indian farmers who make a significant contribution to the development of world agriculture,” she said.
The BPC press service added that the price is fair, reflects the current conditions in the global potash market. “The contract with IPL will become, without a doubt, one of the determining factors in the development of the industry, will have a positive impact on the international potash market in the very near future, give confidence to all its participants, and stimulate demand for potash fertilizers,” the press service said.
“The contract demonstrates the high level of professional confidence, common goals and common market vision on the part of the supplier and also the importer. Belarusian Potash Company thanks its Indian partners for cooperation, confirms its desire to provide the best possible service and is confident that another impetus was given to the development of the business relations between Belarus and India,” the press service noted.