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MUMBAI (ICIS)–Indian state-owned fertilizer firm Rashtriya Chemicals and Fertilizers (RCF) has signed a memorandum of understanding (MoU) with K plus S Middle East for long-term supply of 105,000 tonnes/year of muriate of potash or potassium chloride (MOP).
K Plus S Middle East is a subsidiary of German fertilizer producer K + S Minerals & Agriculture.
“As part of the MoU, K Plus S will supply 105,000 tonnes/year of MOP for the period from 2022 to 2025 at a discounted India specific price,” India’s Ministry of Chemicals & Fertilizers said in a statement on 11 October.
The long-term agreement between the two companies will fulfill around 60% of RCF’s captive consumption requirement, it added.
“In the current geo-political situation when international prices of MOP have witnessed extreme volatility, the long-term agreement signed by RCF is a significant step towards maintaining price stability of the fertilizer in the country,” said chemicals and fertilizers minister Mansukh Mandaviya.
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