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Belarusian Potash Company signs new contract with Chinese importers

Belarusian Potash Company (BPC) has signed a contract to supply China with up to one million tons of potassium chloride at a price of $400 per ton between January 15 and June 30, 2013.

The contract has been signed with China's potash fertilizer importers Sinochem and CNAMPGC.

Under the deal, BPC is to supply at least 700,000 tons to the Asian country, with an option for an additional 300,000 tons, according to the company.

BPC Valery Ivanow predicted that the global consumption of potash fertilizers would be increasing in the future.

The agreement comes just weeks after Canpotex, which trades potash produced by Canada's Potash Corp. of Saskatchewan Inc., Mosaic Co. and Agrium Inc., announced a deal to sell one million tons to China's Sinofert Holdings Ltd. at $400 pet ton for the first half of 2013.

Founded in 2005 by Belarus' Belaruskali and Russia's Uralkali, Belarusian Potash Company is said to control more than 30 percent of the world potash market. A 45-percent stake in the company belongs to Belaruskali and five percent to Belarusian Railroads. //BelaPAN