Canpotex raised prices for potassium chloride

Canadian trader Canpotex signed a contract with Indian Potash for the supply of potassium chloride until the end of 2022 at $590 per ton (CFR freight terms).

According to the statement of its President and CEO Gordon McKenzie, Canpotex wants to contribute to India’s food security. The contract will ensure a reliable supply of Indian Potash with potassium chloride and help to meet the growing demand for it from Indian agriculture.

“Canpotex will provide Indian Potash with potassium chloride for more than twice the price of 2020 when the companies agreed at $230 per ton. The cost of the fertilizer shipped by Canpotex in 2021 is not known exactly but it’s unlikely to be higher than the contract price of Belarusian Potash Company with Indian Potash of $247 per ton,” Fertilizer Daily commented. “Such an increase in the price of potassium chloride is probably associated with US sanctions against Belaruskali and Belarusian Potash Company.”