Belarusian Potash Company (BPC), an agent and joint venture of producers Uralkali and Belaruskali, agreed to sell up to 500,000 tonnes of potash to China in the second quarter and kept the price unchanged from the second half of 2011. The contract for 400,000 tonnes of potash and an option for another 100,000 tonnes priced the deliveries at $470 on a cost-and-freight basis.
The contract with state-owned oil and chemical companies Sinochem and CNAMPGC, China's biggest importers of mineral fertilisers, is valid from April 1 to June 30, Russia's Uralkali said on Tuesday. The company is the world's second-largest potash producer by capacity. BPC said that the deal was signed at a time that buying has been rising gradually in its major markets, India and China. "The macroeconomic risks are being reduced, the potash stock balance is also gradually declining and the agricultural commodities market is characterised by ... price growth," Valery Ivanov, BPC's chief executive officer, said in a statement.
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