On June 27, 2016, during the visit of the Belarusian Potash Company management to New Delhi, negotiations with the long-term strategic partner of BPC in India – IPL – were successfully completed. The potash supply contract to the Indian market in 2016-2017 fiscal year has been signed at $ 227 cfr with 180 days’ credit. The firm volumes amount to 700,000 mt. The shipment of products at a new price starts from July 1, 2016.

The comment of Ms. Elena Kudryavets, JSC Belarusian Potash Company Director General: “Signing this contract will promote the stability of the Indian market, which is an important strategic area to us. The contract reflects interests of producers and importers, as well as end-users of potash fertilizers – Indian farmers that make a significant contribution to the development of global agriculture”.

The price of the new contract is fair and reflects current market conditions of the global potash market. The conclusion of an agreement with IPL will undoubtedly be one of the main drivers for the industry’s development; it will positively affect the global potash market in the near future, add more certainty to all stakeholders and boost demand for potash fertilizers.

This contract is an evidence of a high level of professional trust, a display of common goals and market vision both from the supplier and the importer perspective. Belarusian Potash Company thanks its Indian partners for the cooperation, commits its willingness to provide the best service and is confident that the business relations between Belarus and India have have gained another momentum towards development.