ARA discusses fertilizer contracts, trade rules
Last week, the 2013 International Fertilizer Association (IFA) Production & International Trade Conference was held in Kiev, Ukraine. The theme of the conference focused on challenges in developing fertilizer supply. More than 100 participants from North America, South America, Europe, Asia, Africa, and the Middle East participated in the event.
ARA Senior Vice President of Public Policy & Counsel Richard Gupton presented during one of the sessions focused on Global Fertilizer Trade. Gupton discussed ARA's development of a model fertilizer contract confirmation in 2009 followed by the issuance of trade rules earlier this year. The U.S. was the first country to develop a model contract for the fertilizer industry. Australia is the only other country with a model contract and trade rules.
Following the emergence of volatile fertilizer prices in 2007 through 2009, ARA members saw the need for more formal agreements, common terms and conditions, more accountability, and better risk management. IFA members are discussing the potential need for a model contract for use in the international fertilizer marketplace.
Click here to view photos from the event.
Click here to download the ARA Model Fertilizer Contract.