January 30, 2013
India delays contract signing for supply of Belarus' fertilisers
A significant oversupply of potash fertiliser at the world market was the reason for the delay in signing the contract of delivering Belarus' potash to India.
This was announced by Manoj Bharti, India's Ambassador to Belarus, during a press conference in Minsk last week.
"A lot of government subsidies are spent on potash fertilisers. But due to the recession in 2012, the Indian government has cut its subsidies. Therefore, the prices for potash fertilisers at the Indian market have grown, and therefore the consumption decreased. For this reason Indian suppliers of potash have generated large stocks that are not sold out yet. Therefore, they have no need to enter into new contracts," said Bharti.
However, in the future, India is willing to purchase about 2.7 million tonnes of fertilisers from "Belaruskaliy". The next negotiations on the terms and dates of delivery are tentatively scheduled for February.