Belarusian Potash Co. (BPC) today announced it had reached an agreement with the Consortium of Chinese buyers (Sinochem, CNAMPGC, and CNOOC) to set the contract price of $219/mt CFR to supply potash to China. The price is effective until Dec 31, 2016.
On the volumes agreed, BPC said only that the contract commitments will be in line with the provisions of the long-terms MOUs the parties signed earlier.
“The deal with China logically arises from the contract with India being previously entered into, and we are confident that the Chinese deal will contribute to stabilizing the global potash market and secure its upward advance. This price level reflects the actual market situation and the trends prevailing in the global potash market,” said Elena Kudryavets, BPC Director General.
She believes the deal will enable a balanced demand and supply in the market, support business momentum, and create a solid basis for global potash producers and buyers, assisting them in identifying future business strategies.