Belarusian Potash Company yesterday announced it has agreed with a Buying Consortium to supply potash to China at a contract price of US$247/MT CFR, which would be a US$27/MT increase from previously-reported China contracts.
As stated in our release when BPC announced it had concluded a contract for India, this price is significantly below current market levels for potash in key offshore markets. Canpotex is fully committed for potash sales through April 2021, even without new contract settlements with our customers in China and India. We remain committed to the competitive supply of all of our valued customers throughout the world, and we will independently do so at levels appropriate to the market fundamentals that we see and on commercial terms and conditions that are acceptable to us. Record potash shipments were made in 2020, and we anticipate further export market demand growth in 2021.