MOSCOW, April 5. /TASS/. Uralkali has signed a contract to supply potash to India until September 30 of this year at the price of $422 per ton on CFR terms, the company said in a statement on Wednesday.
"Uralkali became the first producer to reach an agreement with Indian Potash Limited (IPL), the largest importer of mineral fertilizers in India, for the supply of potash until 30 September 2023. The potash price was agreed at $422 per ton on CFR terms," the statement reads.
"The agreement is an objective reflection of the current situation in the industry. We can see a positive reaction to our initiative from the market and believe that the Indian contract is going to be a key price benchmark this year," Uralkali CEO Vitaly Lauk was quoted as saying.
China and India are the world’s largest potash consumers. Previously Uralkali signed a contract with India for 2020 at the price of $230 per ton.