OREANDA-NEWS. August 5, 2011. Belarusian Potash Company (BPC), the joint venture trader of Uralkali and Belaruskali and the world leader in export sales of potash fertiliser, has informed Uralkali (LSE: URKA) that it has agreed a contract with Indian Potash Ltd (IPL), the major Indian fertiliser importer, on MOP deliveries over the period August 2011-March2012.

The delivery price of potash fertiliser for India has been set at USD 490 per tonne on a CFR basis. BPC’s shipments under the contract with IPL will total 1.2 million tonnes.

Vladislav Baumgernter, Uralkali CEO, commented:

"We welcome the conclusion of a long-term contract with our Indian partners. Uralkali is the largest and most strategic supplier of potash to India. Combined deliveries by Belarusian Potash Company and International Potash Company have traditionally accounted for 45–50% of the Indian potash market, which is underlined by the agreement on the new contract. We are sure that this contract is beneficial for both parties at a time when the world market is continuing to grow. It will strengthen the partnership between them and contribute to the stability of the Indian potash fertiliser market. We believe that the new contract with the world’s major potash importer will be a key driver of the market growth in 2012".