Canpotex, the Canadian potash cartel, signed Memorandums of Understanding (MOUs) with three of its customers in India: Indian Potash Ltd., Coromandel International Ltd., and Chambal Fertilizers and Chemicals Ltd. These MOUs confirm Canpotex’s willingness to supply, and each customer’s willingness to acquire, up to 500,000 metric tons (mt) of potash annually during the period from January 1, 2023, to December 31, 2025. “Canadian potash is vital to India’s food security and Canpotex has been a reliable supplier to India for 50 years,” said Gordon McKenzie, Canpotex President and CEO. “Canpotex is committed to supporting India’s potash needs as their agriculture sector continues to grow, particularly in light of current restrictions on Russia and Belarus.” The potash sales will be dependent on Canpotex reaching agreement on acceptable commercial terms, including price, with each customer, with the timeliness of negotiations also being an important factor.
