Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, has signed a memorandum of understanding with Indian state corporation Indian Potash LTD regarding supply of over 1.35 mln tonnes of NPK, NPS and DAP fertilizers to India between 2015 and 2018. The memorandum was signed at the International Fertilizer Industry Association conference in Istanbul.
PhosAgro CEO Andrey Guryev said: “This year we have renewed sales to India after a nearly two-year absence due to significantly lower prices. We currently see sustained levels of demand for NPK/DAP fertilizers on the Indian market.
“We are pleased to continue our mutually beneficial cooperation with IPL, the largest importer of mineral fertilizers in India over the last 60 years with over 10 million tonnes of annual fertilizer imports of different grades.”