Israeli firm signs five year contract for supply of Potash

ICL, a leading global specialty minerals and specialty chemicals firm has recently signed a five-year supply agreement with Indian Potash. The Indian contractor is the largest importer of potash and as per agreement, Israeli firm ICL is expected to supply 600,000 tonnes per year in 2019 and 2020, increasing to 650,000 tonnes per year in 2021-2023, including options.

Noam Goldstein, President of ICL’s Potash division, stated: “This is the first time we have signed a long term agreement for the supply of potash in India, which represents a strategic market for ICL. We consider our company to be the most cost-competitive supplier to India due to, among other things, our geographical proximity which results in major logistical advantages, including lower transportation costs and reduced time-to-market compared to our competitors.”

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