Indian IPL signs five-year memorandum for the supply of Belarusian potash fertilisers

The Ambassador Extraordinary and Plenipotentiary of India to Belarus, H.E. Mr. Pankaj Saxena, told a press conference dedicated to the India National Day that India has great demand for potash fertilisers, so it will continue to purchase them from Belarus. Belarusian potash fertilisers account for a large share of bilateral trade. “The trade balance remains in favour of Belarus since fertilisers constitute the bulk of imports from Belarus,” said Mr. Saxena. He added that a governmental delegation from India had visited Belarus to negotiate with the Belarusian Potash Company and to visit the production facility in Soligorsk. The goal of the Indian delegation was to sign a long-term contract. According to the Ambassador, India’s proposals voiced during the visit are now under consideration by the Belarusian partners.

When asked about the possible purchase of shares of the Belarusian potash enterprise, the Ambassador noted, “The Belarusian side informed us that despite the decline in product prices, the potash company is doing well and is not seeking foreign investment. Both sides have agreed that they may revise the issue in a couple of years.”

According to Mr. Saxena, the Belarusian Potash Company and Indian Potash Limited (IPL) signed a memorandum of understanding for 2016-2020. The document touches upon the issues of regular deliveries of Belarusian potassium to India.