Indian buyer renegotiates potash contract at discount

|By:, SA News Editor

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.

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