04 september 2014

MINSK, 3 September (BelTA) – Belarusian Potash Company (BPC) and the Bangladeshi corporation BADC have signed a contract for the delivery of about 120,000 tonnes of potash fertilizers to Bangladesh, BelTA learned from BPC Director General Yelena Kudryavets on 3 September.

MINSK, 3 September (BelTA) – Belarusian Potash Company (BPC) and the Bangladeshi corporation BADC have signed a contract for the delivery of about 120,000 tonnes of potash fertilizers to Bangladesh, BelTA learned from BPC Director General Yelena Kudryavets on 3 September.

“Yesterday we signed a contract that provides for a possible delivery of about 120,000 tonnes of potash fertilizers to the Bangladeshi market in the near future. The first shipments will be on their way in October when we plan to plan to dispatch two ships,” she said.

According to the available information the contract is worth $40 million.

Yelena Kudryavets pointed out that BPC has been working in Bangladesh for more than a year and the system used to import potash fertilizers into the country changes all the time. For instance, last year the imports were purely those acquired by BADC. This year private enterprises have been allowed to import fertilizers. “BPC also has a big contract for 120,000 tonnes for the private sector of Bangladesh. The contract we signed yesterday is the second one and it targets the public sector. Thus, we cover all the niches of the Bangladeshi market,” stated Yelena Kudryavets.

In her words, the contract has been signed on terms that are favorable for the parties. The contract specifies the pricing formula. “The price for a specific lot will depend on the price on the global market at a certain moment. The price will be precisely known closer to the shipment date,” noted the BPC Director General.

A delegation of Bangladesh is now in Belarus. The delegation includes representatives of the Agriculture Ministry and the head of the management of the state-run company BADC.

Belarusian Potash Company (BPC) was established in April 2005 by the Belarusian industrial group Belaruskali (OAO Belaruskali as of August 2010) and the Russian public joint-stock company Uralkali (Russia). In H2 2013 Uralkali's management decided to stop selling its merchandise via the joint trading company Belarusian Potash Company and change the strategy of sales. Since August 2013 BPC has been working to independently promote Belarusian potash fertilizers onto foreign markets.

OAO Belaruskali is one of the world's largest manufacturers and exporters of potash fertilizers. According to the International Fertilizer Industry Association, Belaruskali accounts for 14% of the world's potash fertilizers production. Belaruskali exports products to over 70 countries. The company comprises four mine groups as well as auxiliary divisions. The state owns 100% of the shares in OAO Belaruskali.

http://eng.belta.by/economics/view/bpc-signs-40m-contract-to-supply-potash-fertilizers-to-bangladesh-6382-2014