OREANDA-NEWS. Uralkali (LSE: URKA) announces that it has agreed potassium chloride (KCl) prices with compound fertiliser (NPK) producers Acron Group, Uralchem Group, EuroChem Group, PhosAgro Group and JSC Minudobreniya.

In accordance with the agreed terms, starting from October 2013, KCl price will be reset every month in compliance with the principles of price determination set by the Russian Federal Antimonopoly Service (FAS) for nondiscriminatory access to potash acquisition.

In December 2012, FAS issued Recommendations for Nondiscriminatory Access to Purchasing Potash with guidance for Uralkali to set KCl price for all consumers no higher than the minimum export price during the period from 1 January 2013 to 31 December 2017. Previously, the price for Russian consumers was calculated on a quarterly basis.

Victor Belyakov, acting Uralkali CEO, commented:

“The agreements undoubtedly contribute to the further development of the Russian mineral fertiliser market. We believe monthly recalculation of KCl prices according to the FAS formula is in the interests of domestic farmers and will have a positive impact on the strengthening of agricultural sector of Russia. At the same time, we would like to thank the representatives of the largest Russian manufacturers of NPK for the support to the Company. We appreciate their intention to buy specifically from a Russian potash producer.”