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China to buy Belarusian potassium chloride at $315 per tonne in 2015

19 March 2015

MINSK (BelTA) – Belarusian Potash Company and a consortium of Chinese buyers have agreed that the price for potassium chloride exported to China in 2015 will be raised to $315 per tonne, the company's press service told BelTA.

The agreement was secured as a result of lengthy talks taking into account the main factors that affect the state of the Chinese economy and the global market on the whole, noted the press service. The factors include falling oil prices, the slower growth of the Chinese economy, and deflationary processes across the globe.

According to Yelena Kudryavets, Director General of OAO Belarusian Potash Company, the absence of the Chinese contract negatively affected the potash market on the whole, put pressure on the market situation in other regions. “If the contract was signed later than March, it would be devastating for the market,” she said. The head of the company is confident that the agreement the sides have reached will send a positive signal for the potash market, will invigorate it, will add stability and confidence to all the market players.

“We have managed to convince Chinese partners that our view in favor of raising the price to match the current market situation was fair. We believe that the agreement is another major accomplishment of Belarusian Potash Company,” noted the Director General.

Representatives of Belarusian Potash Company stated that the terms of the agreement with the Chinese partners match the market situation and are mutually beneficial and acceptable for both sides.

Belarusian Potash Company (BPC) was established in April 2005. It was reorganized in September 2013 after the Russian company Uralkali decided to stop selling its products via the joint trading company. At present BPC independently promotes Belarusian potash fertilizers onto foreign markets. The merchandise is exported to Europe, India, China, Central and South Americas, the Asia-Pacific Region, Africa, and the Middle East.

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Ministry of Foreign Affairs of the Republic of Belarus