MINSK (Reuters) – Belarusian Potash Company (BPC), the world’s largest potash exporter, will propose raising the price of its new contract with China to $290 per tonne, the level of its recently signed deal with India, Chief Executive Elena Kudryavets said.
China is the world’s largest consumer of potash, a crop nutrient, and a contract with the country usually establishes a global price floor.
However, this year BPC, which controls 20 percent of the global potash market, signed the annual contract with India before its talks with China were finished.
“If the contract (with China) comes soon, the price of the contract, from our point of view, should be no less than the Indian price,” Kudryavets told Reuters on Tuesday.
The company will propose raising the price to $290 per tonne from $230 per tonne in the previous contract, she said. The proposed price is the one which BPC and India agreed in their new contract on Saturday.
For the rest of this article: https://in.reuters.com/article/belarus-potash-china/belarus-to-propose-higher-potash-price-to-china-idINKCN1LD264