The agreement will reduce Supply and Price volatility and ensure stable long-term supply of Potassic fertiliser to India
India’s fertiliser companies- Coromandel International, Chambal Fertilisers and Indian Potash Limited signed an MoU with Canpotex, Canada. The MoU was presented to Dr Mansukh Mandaviya, Union Minister of Chemicals and Fertilizers . Canpotex, Canada is amongst the largest suppliers of Potash globally, exporting around 130 LMT of product annually.
“The MOU will reduce both supply and price volatility and ensure stable long-term supply of Potassic fertiliser to India. Government of India has been encouraging the domestic fertiliser industry for establishing supply linkages through long term partnerships with resource rich nations. Given India’s high dependence on imports of raw material and fertiliser minerals, these partnerships provide secured availability of fertilisers and raw materials over a period of time and also offer price stability in volatile market conditions. This supply partnership is expected to improve the fertiliser availability within the country and reduce supply side and price vulnerabilities”. Said Dr Mansukh Mandaviya.
Dr Mandaviya stated that “This is a significant initiative as it will improve the availability of MOP for the farming community, uphold their welfare and contribute towards ensuring food security in the country”.
He added that this MOU will lead to “strengthening of our mutual relationship and furthering bilateral relations between the two countries”.
