OREANDA-NEWS. Uralkali (LSE: URKA; the Company), one of the world's largest potash producers, has concluded a contract with Indian Potash Limited (IPL), the major Indian fertiliser importer, for potash deliveries between April 2014 and March 2015.

The contract's delivery price of potash fertiliser has been set at USD 322 per tonne on a CFR basis. Uralkali's volumes under the contract will total 800,000 metric tonnes of KCl.

Oleg Petrov, Uralkali Director of Sales and Marketing, commented:

“Today's agreement is a mutually beneficial one. India is a strategic market for Uralkali, and IPL is our long-term partner. We hope that the contract will help stimulate potash application rates in India, and support the country's agriculture at the time of continued population growth and rising food demand. We expect that the conclusion of the Indian contract will boost the global potash market growth.“