Indian Potash Limited (IPL), India’s major importer of fertilizers has signed potash import agreements with Belarusian Potash Company (BPC) and ICL to meet the growing agriculture demand after the country has eased lockdown measures.
Indian Potash Limited (IPL) signed import tender with Belarusian Potash Company to supply potash fertilizers to India.
The fertilizers will be sold at $220 per ton on CFR terms till the end of 2020.
The company has also signed an import contract with Isreal based ICL Group to supply an aggregate 410, 000 ton of potash, with mutual options for an additional 30,000 ton, to be supplied through December 2020.
The selling price stipulated in the contract is $50 per ton below the previous contract and are in line with the recent contract prices in India. The contract is part of the five-year supply agreements signed in 2018 between ICL and IPL.
Update: IPL has also signed an import contract on 21st May with Russian potash producer Uralkali for the rest of 2020 at $230 per ton delivered to the buyer’s port.
The price agreed by Indian Potash Limited (IPL) is slightly higher than the $220 per ton set by BPC and China last month.