India this week was reported to be in talks with Russia for the long-term supply of potash as well as DAP and complex fertilizers, Bloomberg reported on Feb. 3, citing a Reuters report, which in turn cited unidentified sources in government and industry.
India’s Indian Potash Ltd. (IPL), Rashtriya Chemicals and Fertilizers Ltd. (RCF), National Fertilizers Ltd., Madras Fertilizers Ltd., and Fertilisers And Chemicals Travancore Ltd., were named in the report as being expected to sign a three-year deal with Russian companies, including Uralkali and PhosAgro.
However, according to some Green Markets sources, uncertainty over possible sanctions against Russia and concerns about a possible invasion of Ukraine by Russia have led to some hesitancy by traders to make arrangements with Russian urea suppliers for the IPL tender. The same hesitancy is expected to be seen for other Russian fertilizer products.