Dr Mandaviya sees MOP price stability in domestic market
K Plus S Middle East FZE DMCC, a subsidiary of Germany’s K+S Minerals and Agriculture GmBH, is to help Rashtriya Chemicals and Fertilizers (RCF) boost production of various grades of complex fertilizers.
Under an MoU, signed 6 Oct 2022, K plus S will supply 105,000 MT Muriate of Potash (MOP) per annum at a discounted India specific price from this year to 2025.
K plus S will supply MOP to RCF for its captive consumption as well as for its trading purposes.
This quantity will fulfill the requirement of 60% of captive consumption of RCF, the Ministry of Chemicals and Fertilizers said in a release on 11 Oct 2022.
This is in line with the Government’s call on domestic fertilizer industry for establishing supply linkages through long-term partnerships with resource rich nations, and to cut high dependence on imports of essential materials.
Minister of Chemicals and Fertilizers Dr Mansukh Mandaviya said, “This Long-Term Agreement signed by RCF will go a long way in ensuring adequate supply of MOP at reasonable price to the Indian Farming community.”
He said that in the current geo-political situation when the international prices of MOP have witnessed extreme volatility, the Long-Term Agreement signed by RCF is a significant step towards maintaining stability of price of MOP in the country. fiinews.com
