Belarus Potash Co. (BPC) and Indian Potash Ltd. (IPL) have renegotiated a potash supply contract signed in January 2021, whereby the new contract price is set at US$280/t on CFR terms.
BPC said that the new agreement was possible "thanks to a balanced approach to doing business and a common desire for a balanced and reasonable development of the potash market, which is demonstrated by the parties to the agreement."
The original one-year contract signed in January was for the supply of 800 000 t of potash fertilizers to the Indian market US$247/t on CFR terms.