IPC agrees India potash deals $355 up at $625/t

14 April 2008 15:13  [Source: ICIS news]

LONDON (ICIS news )--Russian fertilizer marketer International Potash Co (IPC), has reached an agreement to supply Indian buyers with up to 520,000 tonnes of potash at $625/tonne (€400/tonne), a rise of $355/tonne on previous contracts, the company said on Monday.

The first agreement with Indian Potash Limited (IPL) covered 300,000 tonnes of muriate of potash (MOP), with a further 100,000 tonnes option, to be shipped between May 2008 and March 2009.

IPC agreed contracts with Zuari Industries and Mangalore to supply 50,000-60,000 tonnes each, with shipment again up to March 2009.

The agreements, done on a CFR (cost and freight) basis, followed settlements by Belarusian Potash Co (BPC), north American supplier Canpotex and Israel Chemicals (ICL) with Indian buyers at the same price.

IPC exports MOP on behalf of Russia's Silvinit.

($1 = €0.64)

By: Carl Roache
+44 20 8652 3214

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