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Govt signs potash import deal with Russia's Uralkali at $240 a tonne

Indian contract prices are closely watched by other regional buyers Malaysia and Indonesia

Reuters  |  New Delhi 

Mines
Potash mine

has agreed to pay 6 per cent higher price than the previous year to Russia's for importing 650,000 tonnes of potash in the year beginning August, said PS Gahlaut, managing director of Indian Potash Ltd on Friday.

For the next year, will buy potash at $240 a tonne, Gahlaut told Reuters. He said other sellers including Potash Corp of Saskatchewan are likely to offer similar prices for potash.

Potash contracts signed by India, one of the world's top buyers of the crop nutrient, help set the global benchmark along with buying by China, the world's biggest consumer.

Indian contract prices are closely watched by other regional buyers Malaysia and Indonesia.

Reuters last week reported that Indian could agree a higher prices due to improved global demand for potash.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 28 2017. 17:43 IST
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