Reports circulated late Thursday that India has concluded its major potash contract at $280/mt CFR, down $10/mt from the 2018 price. Indian sources were cited for the information, with Green Markets continuing to seek confirmation from other industry players.
Phosagro, Moscow, plans to open a trading office in South Africa as part of its plans to increase its fertilizer sales to Africa, according to an Interfax report citing the group’s CEO Andrey Guryev. The Russian fertilizer group is also reported to be in talks with local junior phosphate miner Kropz SA (Pty) Ltd. about potential cooperation.
The plans for the trading office are to open an office in Cape Town at the end of this year or in early 2020. PhosAgro shipped 320,000 mt of fertilizers to Africa in 2018 and sales are expected to reach 400,000 mt this year.
The Russian fertilizer group and Kropz reportedly plan to ink a Memorandum of Understanding at the ongoing Russia-Africa forum in Sochi, Russia, being held Oct. 23-24, according to the report, citing PhosAgro’s CEO.
Kropz is developing the Elandstontein phosphate mining project in South Africa’s Western Cape Province, which is the second largest phosphate deposit in the country. The possible cooperation with PhosAgro may not only encompass solving common marketing problems, but could also become a [potential] foundation for joint investment, according to the report, citing the Russian group’s CEO.
