 "Arab Potash inks supply pact with Indian Potash & Zuari Agro")
Jordan’s Arab Potash Company (APC) has signed a sales contracts, for a gross value estimated at $ 170-190 million, with Indian Potash Ltd and Zuari Agro Chemicals Ltd for supply of potash. “In doing so, Arab Potash has kept up its achievement of last year (2014) of raising sales to India beyond the 5,00,000 metric ton (MT) mark,” said APC in a press release.
As per the agreement with Indian Potash Limited (IPL), Arab Potash will supply 275,000 MT of potash from May 2015 to March 2016, in line with current market prices and terms. “The cooperation and partnership between APC and IPL is historic and is a cornerstone in APC sale strategy and commitment to the Indian market,” said APC press release.
A second agreement was signed to supply Zuari Agro Chemicals Ltd with 230,000 MT of potash during the same period. “Arab Potash and Zuari have worked together for more than 20 years, and APC is committed to furthering and strengthening this partnership,” added the release.
Arab Potash Company is the eighth largest potash producer worldwide by volume of production and the sole producer of potash in the Arab world. APC operates under a concession from the Government of Jordan that grants it exclusive rights to extract, manufacture and market minerals from the Dead Sea until 2058.
More than 90 percent of the potash produced in the world is used for fertilisers. It is one of the three key ingredients for plant growth, which in turn is vital to meet growing food requirements. Its main functions include the production of sugar and starches, and the regulation of water conditions within the plant cells. The most common forms of potash are potassium chloride, potassium sulfate and potassium nitrate.
As per the agreement with Indian Potash Limited (IPL), Arab Potash will supply 275,000 MT of potash from May 2015 to March 2016, in line with current market prices and terms. “The cooperation and partnership between APC and IPL is historic and is a cornerstone in APC sale strategy and commitment to the Indian market,” said APC press release.
A second agreement was signed to supply Zuari Agro Chemicals Ltd with 230,000 MT of potash during the same period. “Arab Potash and Zuari have worked together for more than 20 years, and APC is committed to furthering and strengthening this partnership,” added the release.
Arab Potash Company is the eighth largest potash producer worldwide by volume of production and the sole producer of potash in the Arab world. APC operates under a concession from the Government of Jordan that grants it exclusive rights to extract, manufacture and market minerals from the Dead Sea until 2058.
More than 90 percent of the potash produced in the world is used for fertilisers. It is one of the three key ingredients for plant growth, which in turn is vital to meet growing food requirements. Its main functions include the production of sugar and starches, and the regulation of water conditions within the plant cells. The most common forms of potash are potassium chloride, potassium sulfate and potassium nitrate.