India to Buy Potash From Belarus at Lowest Price in a Decade
- Potash miner agrees to sell 700,000 tons at $227 a ton
- Analysts say price is higher than previously expected
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Belarusian Potash Co. agreed to supply potash to India at the cheapest price in almost a decade, but a level that analysts said exceeds previous estimates and indicates renewed demand for the crop nutrient.
Indian Potash Ltd. will buy 700,000 metric tons at $227 a ton in the new agricultural season starting July 1, according to a statement from Belarusian Potash Co. or BPC. Last year, the price initially reached was $332 a ton, before being reduced to $297. The new price is the lowest since the start of 2007, according to Raiffeisenbank.