Indian Potash to procure 80,000 tonne of potash from Russia's Uralkali

Uralkali Trading SA - a wholly-owned subsidiary of Russina firm Uralkali, one of the world’s largest potash producers - has concluded a contract with Indian Potash Limited (IPL), the major Indian fertiliser importer, for potash deliveries between May 2015 and March 2016.
 
The contract delivery price for potash fertiliser has been set at an increase of $ 10 per tonne on a CFR basis to the last year’s contract price. Uralkali’s volumes under the contract will total 800,000 metric tonnes of potassium chloride (KCl), including optional deliveries.
 
Dmitry Osipov, CEO, Uralkali, commented, “This agreement represents a compromise, reflecting the current situation on the global potash market. The contract will undoubtedly become one of the major drivers for industry development, stimulating potash demand.”
 
Uralkali is one of the leading vertically integrated producers of potash, which is an essential component for the development of all living organisms. The company accounts for 20 percent of the world’s potash production and controls its entire production chain, from potash ore mining through to the supply of potassium chloride to customers. Uralkali’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia).