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On July 14, the Belarusian Potash Corporation (BPC) announced that it had reached an agreement with the Chinese Buyers Alliance (Sinochem, China Agricultural Materials Group, CNOOC) to supply potash to China at a contract price of US$219 per ton (CFR).
It is valid until December 31, 2016.
China is the world's major potash fertilizer consumer, and the signing of China's supply contract will help stabilize the global potash fertilizer market, which undoubtedly provides a positive signal for the gradual growth of the market.
In recent years, intensified competition in the potash fertilizer industry and falling prices of agricultural products have caused the industry to be in trouble.
Since the beginning of this year, the spot market price of potash fertilizer has been around US$220 per ton, which is about 40% lower than last year.
Kudryavets, general manager of BPC, said, “This Chinese agreement will help stabilize the world potash fertilizer market and ensure its healthy and upward development.
” “This price level reflects the actual situation and trend of the global potash fertilizer market.
” Traditionally, the world’s largest potash fertilizer Buyer China’s annual contract serves as a price benchmark for fertilizer producers.
The absence of the contract this year has suppressed the demand and sales of potash fertilizer.
Prior to this June 27, BPC and India took the lead in reaching a contract for the supply of 700,000 tons of potash fertilizer at US$227 per ton.
This is the first time India has reached an agreement before China since 2009.
On July 11, the Israel Chemical Industry (ICL) Group confirmed that it had signed a contract to supply potash to India.
Based on past experience, other large producers including Ural Potash (UralKali) and the North American export cartel Canpotex composed of Canadian Potash (PotashCorp), Mosaic and Agrium are expected to follow the example of BPC and at the same price level in the next few weeks.
Sign a contract with China.
According to Reuters, in Toronto, Canadian Potash shares rose 2%.
In New York, Mosaic shares rose 2%.
Agrium's shares in Toronto and New York rose 2% and 3%, respectively.
It is valid until December 31, 2016.
China is the world's major potash fertilizer consumer, and the signing of China's supply contract will help stabilize the global potash fertilizer market, which undoubtedly provides a positive signal for the gradual growth of the market.
In recent years, intensified competition in the potash fertilizer industry and falling prices of agricultural products have caused the industry to be in trouble.
Since the beginning of this year, the spot market price of potash fertilizer has been around US$220 per ton, which is about 40% lower than last year.
Kudryavets, general manager of BPC, said, “This Chinese agreement will help stabilize the world potash fertilizer market and ensure its healthy and upward development.
” “This price level reflects the actual situation and trend of the global potash fertilizer market.
” Traditionally, the world’s largest potash fertilizer Buyer China’s annual contract serves as a price benchmark for fertilizer producers.
The absence of the contract this year has suppressed the demand and sales of potash fertilizer.
Prior to this June 27, BPC and India took the lead in reaching a contract for the supply of 700,000 tons of potash fertilizer at US$227 per ton.
This is the first time India has reached an agreement before China since 2009.
On July 11, the Israel Chemical Industry (ICL) Group confirmed that it had signed a contract to supply potash to India.
Based on past experience, other large producers including Ural Potash (UralKali) and the North American export cartel Canpotex composed of Canadian Potash (PotashCorp), Mosaic and Agrium are expected to follow the example of BPC and at the same price level in the next few weeks.
Sign a contract with China.
According to Reuters, in Toronto, Canadian Potash shares rose 2%.
In New York, Mosaic shares rose 2%.
Agrium's shares in Toronto and New York rose 2% and 3%, respectively.
