BELARUSIAN POTASH AGREES THE PRICE OF CHINESE POTASH CONTRACT
On September 17, 2018, in Beijing, during the final round of challenging and prolonged negotiations with the Consortium of Chinese Buyers (Sinochem, CNAMPGC, CNOOC), the delegation of Belarusian Potash Company headed by the BPC Director General Elena Kudryavets has agreed the contract price at US$290/mt cfr China for the deliveries through June 2019. The new price is up US$60/mt year-on-year. The parties have managed to reach an agreement that fully reflects the existing upward price trends of the global potash market.
Elena Kudryavets, Director General of BPC, comments: “Chinese contract price agreement is, undoubtedly, another positive signal for the potash industry. This is a good price, over 25% increase, and we believe that such level will help to ensure further progressive development of the Chinese market and of the global market as well.”
The agreement of the Chinese contract price has strategic importance, because the People’s Republic of China is the largest potash consumer in the world, and the existing system of Chinese contract significantly influences the development of the global market of mineral fertilizers. Belarusian Potash Company expresses its sincere gratitude to the Consortium of Chinese Buyers for its fruitful work that allowed making a balanced and mutually acceptable decision reflectin the actual state of things on the market.
JSC Belarusian Potash Company was established in 2013. It is an exclusive exporter of potash fertilizers produced by JSC Belaruskali. Over the past few years, the company has maintained a strong leadership in the global export of potash fertilizers. For the five years of its activity, BPC has delivered Belarusian potash to 128 countries.