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Russia’s Uralkali not ready to sign potash supplies deal with India

June 27, 21:27 UTC+3 MOSCOW
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MOSCOW, June 27. /TASS/. Russia’s potash producer Uralkali is not ready to sign a contract on potash supplies to India under the proposed price as it considers the price low, a representative of the company told TASS Monday.

"We consider the price low so we’re not ready to sign (the contract) under this price," the source said.

In May 2015, Uralkali announced signing of an agreement with Indian Potash Ltd (IPL) on supplies of 800,000 tons of potash at the price of $332 per tonne. The plan was to finalize talks with India on prices by the end of the first quarter.

Uralkali is one of the world’s largest potash producers and exporters. Its assets consist of five mines and seven ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia).

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