Nutrien shares Canpotex outrage
The Canadian producer of mineral fertilizers Nutrien announced its solidarity with the previously published opinion of the international trader Canpotex that the price for the supply of potassium fertilizers, set by the new contract between Belarusian Potash Company and Indian Potash, is significantly lower than prices in key markets.
“We understand that the contract was signed at the highest government level with limited commercial participation,” said Ken Seitz, Senior Vice President of Nutrien. “The price of the contract doesn’t reflect current prices in the regional potassium markets and doesn’t suit agricultural fundamentals. Nutrien absolutely agrees with Canpotex’s position that potential sales to India in 2021 shouldn’t follow the price set in this contract.”
To remind the current situation, Belarusian Potash Company has signed a contract with Indian Potash for the supply of potassium fertilizers at $247 per ton to the Indian market.