Belarus plans to manage potassium chloride sales without traders

Starting this year, sales of potassium fertilizers from Belarus to African and Latin American countries will go directly, bypassing American and European traders, said First Deputy Prime Minister of Belarus Nikolai Snopkov.

“We expect that in 2023 direct supplies of potassium fertilizers from Belarus to the countries of Africa and Latin America will be established (previously, supplies went through traders). Relevant studies are already in place,” Nikolai Snopkov said.

He also predicts an increase in the supply of potassium fertilizers to traditional markets for Belarus due to a decrease in the price, which was quite high in 2022.

“We see a decrease in the price and expect that in 2023 it will be more or less fair, which is $420-450 per 1 ton on the potassium market. Accordingly, we expect (and this is confirmed by our negotiations) an increase in volumes,” Nikolai Snopkov added.

According to his statement, by the end of 2023, Belarus plans to reach the level of 2019-2022 in terms of the supply of potassium fertilizers.

“The refusal of the Belarusian authorities to export potassium fertilizers, or rather potassium chloride, using the services of Western traders will improve the situation on the world market,” commented the information and analytical service of Fertilizer Daily.

Source: Prime