Israel Chemicals Ltd. (ICL) said today that it has signed several contracts to supply an aggregate 700,000 mt of potash to its customers in China. The agreements also include options to purchase additional quantities. The contracts are for delivery during 2016. The selling prices stipulated in the contracts are in line with the recent contract prices in China. The contracts are part of three-year framework agreements between ICL and its Chinese customers. ICL has also agreed to sell potash to India at prices recently negotiated by Belarusian Potash Co.
The BPC-China price was $219/mt CFR. To date, major suppliers, Canpotex and Uralkali have not signed on to sell product to China or India.