Israel-headquartered ICL, a multinational fertiliser and specialty chemicals company, has announced that subsidiary company ICL Fertilizers has signed additional agreements to supply 430,000t of potash to customers in India.
This is in addition to the company's recent agreement to supply 1 mt of potash to another customer in India.
The aggregate sale of 1,430,000t of potash to the Indian market over the next 12 months represents an all-time record for the company.
Under the terms of the new agreements, ICL Fertilizers will supply 430,000t of potash, including an option for 90,000t, for a 12-month period beginning in April 2010, at a price of $370 per ton.
The new agreements further demonstrate the importance of India as one of ICL Fertilizers' primary target markets. They also highlight the logistical advantage of the company's location in Israel, says ICL.
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