The current global macroeconomic situation is marked by several crisis factors – historic collapse of prices for oil and other commodities, sharp devaluation of local currencies, etc. The pandemic of COVID-19 contributed to the general volatility affecting the fertilizer and agricultural market among others, and affecting negatively supply chains and interrupting shipments.
Quarantine measures made both governments and people realize more clearly, how important agricultural sector is for normal life. Food security is once again at the top of the list, and regularity of food production and related distribution chains must be prioritized.
It is at such moments that central to humanity concepts of responsibility and care for our common future come into play.
As a result, BPC and the Consortium of Chinese buyers (Sinochem, CNAMPGC, CNOOC) reached a decision to make a vital step for the international fertilizer market and settle a new Chinese contract price.
The new China contract is concluded at $220 with supplying period in 2020.
The price of the new China contract builds a firm foundation for the stabilization, recovery and further incremental development of the global potash market.
BPC extends sincere gratitude to its Chinese partners for the constructive approach, understanding of the situation and commitment to the market development. For their part, BPC and Belaruskali take all required measures to support business processes on the high level to ensure that our customers can always rely on us.
Given the global scale of the crisis, we also urge all participants of the logistic chain (stevedores at the discharge and loading ports, shipowners, railways, truck transportation companies) to maximally support fertilizer movement to the end user, to the farmers. Certainly, the return to the normal life now becomes the mission of every responsible business, while agriculture has always been and remains the key industry for the world’s population.
For the reference:
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 nearly seven years of its activity, BPC has delivered Belarusian potash to 133 countries.