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Israel Chemicals signs 5-year potash supply deal with Indian Potash

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Israel Chemicals signs 5-year potash supply deal with Indian Potash

Israel Chemicals Ltd. signed a five-year supply agreement with India's largest potash importer, Indian Potash Ltd.

Under the agreement, the company has to supply 600,000 tonnes per year in 2019 and 2020, increasing to 650,000 tonnes per year from 2021 to 2023, including options.

The prices will be based on Indian market rates at the time of supply, according to a Dec. 27 release.

The company signed a contract in August to supply 550,000 tonnes of potash to its Indian customers between September 2018 and June 2019.