Canpotex has agreed a new potash supply contract with its long-term customer, Indian Potash Ltd., at a price of $230/mt CFR with 180 days’ credit for potash shipments through to Dec. 31, 2020, the potash export organization said in a statement. The agreed price is a $50/mt reduction on the previous contract price with India, concluded at $280/mt CFR with 180 days’ credit last October. Canpotex is the first supplier to reach a new supply contract with India.
Canpotex also confirmed it has agreed new supply contracts with its traditional customers in China for potash shipments up to Oct. 31. It said the selling prices under these contracts “reflect prevailing market conditions.”
BPC negotiated a new contract price of $220/mt CFR with Chinese buyers, Sinochem, CNAMPGC, and CNOOC, for seaborne deliveries in 2020, and was the first supplier to settle. ICL subsequently agreed new supply contracts with its Chinese customers at the same price.