ICL to supply 410,000 metric tons of potash to Indian Potash Limited

ICL GROUP, an Israeli specialty minerals and specialty chemicals company, has signed a contract with Indian Potash Limited (IPL), an Indian potash importer, to supply 410,000 metric tons of potash, with mutual options for an additional 30,000 metric tons, to be supplied till December 2020.

According to the Israeli company, the selling price stipulated in the contract is $50 per tonne under the previous contract and are in line with the recent prices of contracts in India. The contract is part of the five-year supply agreements between ICL and IPL signed in 2018.

Noam Goldstein – President of the ICL Potash division said: “The contract that we have signed in India, one of ICL’s strategic markets, is part of the five-year supply agreement we signed in 2018 with IPL, India’s largest potash importer, and solidifies the leading position ICL has in this market.

“Favorable weather conditions and an increase in planted areas in several Ag-intensive regions, are contributing to a solid global demand for potash, as reflected by this supply contract, as well as by the contracts we recently signed in China.”

ICL to supply 410,000 metric tons of potash to Indian Potash Limited. Photo courtesy of Pete Linforth from Pixabay.