OREANDA-NEWS. On 16 April 2008 was announced, that BPC and China importers have reached an agreement on the price and volume of MOP.

BPC (Uralkali's export trader and a 50% joint venture with Belaruskali) has informed Uralkali of an agreement reached on April 15, 2008 with the official negotiations group organized by the government of China, which included Sinochem, CNAMPGC and COOC, on the price and volume for the supply of potassium chloride (MOP) in 2008. The price for sales to Sinochem and CNAMPGC, China's largest importers of mineral fertilizers, has been increased by \\$400 per tonne.

The new price has been established for shipments from June/July 2008 until December 2008.

As in 2006 and 2007 BPC was the leader in the negotiations process with two of the biggest potash consumers in the world and became the first potash exporter to settle the contracts for 2008 with Sinochem and CNAMPGC. Uralkali considers the result of BPC's six months' negotiations with the Chinese partners to be an extremely important achievement for the global potash market.

BPC agreed with Sinochem and CNAMPGC on shipment of around 1 mln tonnes till the end of 2008. The volume of shipment was decreased due to the late contract settlement and further tightening of supply and continuous strong demand in global markets.