New Indian Potash Price Reported
Belarus Potash Co. (BPC) announced earlier today it and Indian Potash Ltd. (IPL) have agreed a new contract price of $280/mt CFR (with 180 days’ credit) for potash deliveries to India.
The new price marks a $33/mt increase on the contract price of $247/mt agreed by the two companies in late January for their new annual supply contract, under which BPC would deliver 800,000 mt of potash. The new price was negotiated in “the framework of close partnership”, BPC said in a statement.
ICL today also announced it has signed a new annual contract with IPL to supply an aggregate 600,000 mt of potash, with mutual options for an additional 50,000 mt, to be supplied through December 2021. The Israeli supplier said the agreed price is $280/mt CIFFO Indian ports, and is part of the five-year supply agreements signed in December 2018 between ICL and IPL.