Uralkali has concluded a contract with the Indian company Indian Potash Ltd for 800,000 tonnes of potassium chloride at a price of $332 per tonne to be shipped from May 2015 to May 2016, the company said in a statement.
The contract's price is $10 higher than that indicated in the previous contract, and the volume is the same as in 2014, it said.
India routinely pays a premium to the price of a Chinese contract, which is considered the minimum level for the global market.
Belarusian Potash Company (BPC, Belaruskali's trader) concluded a contract with China in March at $315 per tonne, which is $10 higher than in 2014, while Urakali and Canpotex, a trader of North American potassium chloride producers, were insisting on increasing the price for Chinese consumers to $330-$335 per tonne.
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