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Uralkali signs deal on potash deliveries to India

The company said that the contract price reflects the current market situation

MOSCOW, May 21. /TASS/. Uralkali signed a contract for the supply of potash to India in 2020 at a price of $230 per tonne on the terms of delivery to the buyer’s port, the company said on Thursday.

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"Uralkali, one of the world’s largest potash producers, announces that Uralkali Trading, a wholly-owned subsidiary of Uralkali, has concluded a contract with Indian Potash Limited (IPL), major Indian importer of fertilizers, for potash deliveries until the end of 2020," the report said.

The company said that the contract price reflects the current market situation, "in contrast to the commercial terms of the Chinese contract, which were considered suboptimal by most companies in the industry."

"Uralkali believes that overall the price parameters of this agreement reflect the current market environment and consider the interests of both consumers and producers equally in the economic crisis, while supporting the Company's position in one of its key markets," Uralkali Trading CEO Alexander Terletsky commented on the deal.

Uralkali is one of the world’s largest potash producers and exporters. The company’s assets consist of 5 mines and 7 ore treatment plants in Russia. The company’s shares are traded on the Moscow Exchange.

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