ICL signs contracts supply 835,000 tonne potash fertilizer India

ICL signs contracts to supply 835,000 tonne potash fertilizer to India

1:09 PM, 20th June 2015
ICL signs contracts to supply 835,000 tonne potash fertilizer to India

TEL AVIV, ISRAEL: Israel Chemicals Ltd (ICL) said that its ICL fertilizers segment signed several contracts for the supply of an aggregate of 835,000 metric tonne of potash to its customers in India, including options. The selling price stipulated in the contracts is $10 per tonne above previous contracts and similar to the prices announced recently by other potash manufacturers for sales to the Indian market.

The new contracts demonstrate the strong relationships that ICL has developed with its customers in India who elected to wait until the conclusion of ICL’s recent strike to negotiate the contracts with ICL fertilizers.

In addition, ICL is active in India through its ‘Potash for Life’ farmer training program and promotion of potash consumption. The program, launched in October 2013, is designed to unlock the potential of agriculture in India by promoting balanced fertilization among India’s farmers to increase agricultural productivity and economic benefits, as well as to contribute to the creation of sustainable food production in India.

“The new contracts that we have signed with our customers in India confirm our leading position in the strategic Indian market, whose potential for rapid growth is expected to be a leading driver of worldwide potash demand for years to come. India’s use of fertilizers is growing and ICL’s supply of a wide variety of fertilizer products can help to increase agricultural output in every area and thereby help to provide India’s large population with sufficient quantities of quality food,” said Nissim Adar, president and CEO, ICL fertilizers.

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