Tel Aviv-The management of Israel Chemicals Ltd.’s Dead Sea Works said May 12 that it welcomes the resolution adopted by the Knesset’s labor and welfare committee to immediately launch an arbitration process between the Dead Sea Works and Haifa Chemicals. The arbitration procedure will be handled by a former judge of the Supreme Court or by a former district court judge, and will be completed within a six-month time frame. Until the arbitrator issues his decision, the Dead Sea Works will supply potash to Haifa Chemicals according to the most recent price paid for the potash by Haifa Chemicals. Once the arbitrator determines the new price formula, the provisional rate will be updated retrospectively and the new formula will remain in effect for the next ten years. Haifa had stopped potassium nitrate production a few weeks ago (GM April 27, p. 12), citing ICL’s high potash prices.
Transparency Across the Fertilizer Value-Chain