The Belarusian Potash Company (BPC) says the global potash fertilizer market is gradually getting back to normal on reports about new contracts made with India and China.
With new long-term deals signed with India and China, the pressure on spot markets has reduced and potash prices started growing steadily in H2 2016.
For instance, potash prices in Brazil have been on the rise for four week in a row, which stimulates the growth of potash prices in other regions, including the United States, Europe and South East Asia.
Supply and demand on the global potash market is becoming more balanced. Potash prices are growing all around the world and customers stay active, the BPC said.
The BPC says it has made up a schedule of potash supplies for September and October and is now busy collecting orders for November-December.
As previously reported, in June the BPC signed a contract with Indian Potash Limited (IPL) to supply 700,000 tons of potash fertilizers to India in FY 2016-2017 at $227 per ton on a cost and freight basis (CFR) with a 180-day grace period. In July the BPC signed a contract with China to supply potash at $219 per ton on CFR terms. (Prime-TASS/Business World Magazine)