Canpotex, Nutrien, Uralkali and K+S Group have all expressed their belief that the new annual contract price of $247/mt CFR reached between Belarus Potash Co. (BPC) and India’s biggest potash importer, Indian Potash Ltd. (IPL), as announced on Jan. 29, is not reflective of current market trends, and is significantly below current market price levels.
Canpotex said “this would be significantly below current market levels for potash in key offshore markets and a complete disconnect from the strong fundamentals currently being seen for major agricultural commodities in numerous growing regions throughout the world.”