Uralkali Trading Reaches Agreement on Potash Shipments to India
Uralkali (the Company; Moscow Exchange: URKA), one of the world’s largest potash producers, announces that Uralkali Trading, a wholly-owned subsidiary of Uralkali, has concluded a contract 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 US$ 230 per tonne of potash fertilizers on the terms of delivery to the buyer's port (CFR), and to a greater extent reflects the current market situation, in contrast to the commercial terms of the Chinese contract, which were considered suboptimal by most companies in the industry.
Alexander Terletsky, Uralkali Trading CEO, commented:
“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.”