Uralkali secures contract to supply potash to China at price 27% higher yoy

MOSCOW. June 16 (Interfax) - Russian potash giant Uralkali has signed a contract to supply potassium chloride to China at a price of $346 per tonne on delivery to the buyer's port (CFR).

"Uralkali became the first producer to reach an agreement with the negotiating consortium of Chinese importers, for the supply of potash until the end of 2025," the company said in a press release. The size of the contract was not disclosed.

Last year, Uralkali supplied potash to China at a price of $273 per tonne, according to price agencies.

Contracts with the largest potash importers, China and India, that producers sign annually traditionally set the minimum price level on this market.