Business news

MINSK, 14 July (BelTA) – The contract price for potash exports of Belarusian Potash Company (BPC) to China has been set at $219 per tonne. Relevant information is posted on the company’s website, BelTA has learned.

“On 14 July, Belarusian Potash Company reached an accord with the consortium of Chinese buyers (Sinochem, CNAMPGC, and CNOOC) to set the contract price of $219 per tonne for potash exports to China, with the price being effective until 31 December 2016. The contract commitments will be in line with the provisions of the long-term memorandums of understanding the parties signed earlier,” the post on the website reads.

BPC Director General Yelena Kudryavets pointed out that the deal with China arises logically from the previously signed contract with India. “We are confident that the Chinese deal will contribute to further stabilization of the global potash market and secure its upward advance. This price reflects the actual market situation and the trends prevailing in the global potash market. The deal will enable us to balance demand and supply in the market, give an additional impetus to business activities, and create a solid basis for global potash producers and buyers for mapping out business strategies,” Yelena Kudryavets said.