Indian buyer renegotiates potash contract at discount


Indian Potash says it has renegotiated an annual contract for the import of ~1M metric tons of potash at a 12%-plus discount following the breakup of a global fertilizer grouping led by Russia's Uralkali (URALL.PK), which says it is now pursuing a volume-over-price strategy.

Indian potash importers, who form the second biggest buyer group after China, sought discounts on their current contracts following the breakup and said the slide in the rupee vs. the dollar since May had made imports more expensive for them.

POT -1.1%, MOS -1%, AGU -1.3%, IPI -0.6%.

ETFs: MOO, CROP, PAGG, VEGI.

Comments (2)
  • jjmc2001
    , contributor
    Comments (1358) | Send Message
     
    This might be a valuable new item if we knew tha ctual price per ton that will be paid. Was this a 12% discount from a price that was set at much higher prices earlier this year. If so not a big deal. However if it is 12% lower than the lowered recent prices that is significant. Further investigation is needed. Since I do not pay the WSJ fee I cant read the source article..
    30 Sep 2013, 03:33 PM Reply Like
  • zippychippy
    , contributor
    Comments (23) | Send Message
     
    The deal covered about one million metric tons of potash, which was originally contracted at $427 a ton.
    1 Oct 2013, 09:08 AM Reply Like
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