KOLKATA (miningweekly.com) - Some leading global potash miners have agreed to start negotiations to offer discounts on potash exports to India, after the Asian major hardened its stance on extending the current ‘import holiday’.
“India being among the largest importer of potash, its staying out of the global market has definitely impacted suppliers. The Indian government’s hardening of stance to continue to stay out of the international market for more time may have prompted global potash miners to offer coming back to negotiations on prices,” said an official in India’s Chemical and Fertiliser Ministry.
“Russian potash miner, Urakali and Belaruskali, Belarus have communicated to Indian potash importers to start price negotiations and their willingness to offer discounts on their export offer price,” the official said.
“We can be flexible on prices to Indian farmers but this flexibility was limited by our policy to have balanced pricing across all our markets,” an executive of Belaruskali has been quoted in the local Indian media.
“Indian potassic fertiliser consumption was down 23% this year on high prices being replaced by cheaper urea. Hence there is no urgency in import of potash. The welcome sign was that India importers’ demand of price reductions of 15% to 20% on spot price of $500/t was at least being heard now,” the Ministry official said.
Read more at MiningWeekly.com