India MOP contract settlements see 3.2m tonnes booked so far

24 July 2009 11:11  [Source: ICIS news]

LONDON (ICIS news )--More potassium chloride (MOP) supply contracts have been settled in India this week, with 3.2m tonnes booked by Indian buyers under 2009-2010 contracts, market sources said late on Thursday.

This week, Israel Chemicals Ltd (ICL) Fertilizers, German producer Kali and Salz (K+S), North American marketer Canpotex and Belarusian Potash Co (BPC) agreed to supply Indian Potash Ltd (IPL) at $460/tonne (€322/tonne) CFR (cost and freight), including 180 days’ credit.

The price, which was the same as that agreed last week by International Potash Co (IPC), represented a decline of $165/tonne from the previous contract.

Shipment dates for all suppliers will be between July 2009 and March 2010.

ICL agreed to supply 750,000 tonnes, BPC 650,000 tonnes and K+S 100,000 tonnes.

Canpotex agreed to supply 850,000 tonnes to both private and public sector buyers.

Last week, IPC agreed to supply IPL 850,000 tonnes.

APC has yet to officially confirm an agreement, but sources said they expect it to do so imminently.

India is expected to import around 4.5m tonnes of MOP up to March 2010 through IPL and the other fertilizer buyers such as MMTC and Zuari.

($1 = €0.70)

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By: Carl Roache
+44 20 8652 3214

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