In April, Canpotex said it had agreed a supply contract with Indian Potash for shipments through Sept. 30
Ties between India and Canada deteriorated sharply after New Delhi and Ottawa expelled one of the other's diplomats in a dispute over the murder of a Sikh separatist leader
Coromandel International, Chambal Fertilizers and Indian Potash Ltd have signed a pact with Canada-based Canpotex for the import of 15 lakh tonnes of potash annually for three years, according to the Ministry of Chemicals and Fertilizers. Canpotex, Canada is amongst the largest suppliers of Potash globally, exporting around 130 lakh tonnes of product annually. Potash, which is a source of potassium, is used both for direct application as MOP (Muriate of Potash) as well as in combination with 'N' & 'P' nutrients in NPK fertilizers. India meets 100 per cent of its potash requirement through imports. The country imports approximately 40 lakh tonnes of MOP annually. The Memorandum of Understanding (MoU) was presented to Chemicals and Fertilizers Minister Mansukh Mandaviya on Wednesday, an official statement said. "In a significant step towards ensuring long-term fertilizer availability for the farming community, India's fertilizer companies - Coromandel International, Chambal ...
Potash consumption will probably fall to 3 million tons in the year through March 2023 from 5 million a year earlier
Among the various items that have seen a spike in their prices due to the Russia-Ukraine conflict is Muriate of Potash (MOP) fertiliser
Indian Potash Ltd has signed a five-year deal to import muriate of potash from Israel Chemical Ltd, according to a government statement released on Monday
Indian contract prices are closely watched by other regional buyers Malaysia and Indonesia
This is India's first pause in potash imports in years and will be tough on suppliers already reeling from weak demand as China and Brazil also trim their buying.