Uralkali Trading, IPL sign contract potash shipment

Uralkali agrees for $230/tonne potash shipment to India

6:41 AM, 22nd May 2020
Uralkali-mine
Russian-potash firm Uralkali is one of the world's largest potash producers and exporters. (Uralkali mine image for representation purpose only).

BEREZNIKI, RUSSIA: One of the world’s largest potash producers Uralkali said it has agreed with Indian Potash Limited (IPL), the major Indian importer of fertilizers, for potash deliveries until the end of 2020. The contract price has been set at $230 per tonne of potash fertilizers.

The contract between Uralkali Trading (Uralkali’s wholly-owned subsidiary) and IPL is agreed on the terms of delivery to the buyer’s port (CFR), and to a greater extent reflects the current market situation. This is in contrast to the commercial terms of the Chinese contract, which were considered suboptimal by most companies in the industry.

“Uralkali believes that overall the price parameters of this agreement reflect the current market environment and consider the interests of both consumers and producers equally in the economic crisis, while supporting the company's position in one of its key markets,” said Alexander Terletsky, Uralkali Trading CEO.

Separately, a day earlier Uralkali had signed a loan agreement of $665 million with 11 international banks, a 5-year pre-export facility. “In current challenging market conditions it is especially important for us that not only our constant partners with long-term trusting relationship demonstrate readiness for cooperation with Uralkali but also credit institutions, including those from the US and Japan, that haven’t participated in previous pre-export facilities,” Anton Vishanenko, Uralkali CFO had commented.

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