Uralkali, one of the world’s largest potash producers, announces that Uralkali Trading S.A. (a wholly-owned subsidiary of Uralkali) has concluded a contract with Indian Potash Limited (IPL), the major Indian fertilizer importer, for potash deliveries between May 2015 and March 2016.

The contract delivery price for potash fertiliser has been set at an increase of US$10 per tonne on a CFR basis to the last year’s contract price. Uralkali’s volumes under the contract will total 800,000 metric tonnes of KCl, including optional deliveries.

Dmitry Osipov, Uralkali CEO, commented, “This agreement represents a compromise, reflecting the current situation on the global potash market. The contract will undoubtedly become one of the major drivers for industry development,stimulating potash demand.”