Indian fertiliser firms sign MoU with Canada's Canpotex
India’s fertiliser companies- Coromandel International, Chambal Fertilizers and Indian Potash Limited signed an MoU with Canpotex, Canada on 27 September 2022.
The MoU was presented to Union Minister of Chemicals and Fertilizers Dr Mansukh Mandaviya, at Delhi.
As part of the MoU, Canpotex, Canada will supply 15 LMT of potash annually to Indian fertilizer companies for a period of 3 years.
This supply sharing is expected to improve fertilizer availability within the country and reduce the cost of fertilizers.
It is a significant step towards ensuring long-term fertiliser availability for the farming community.
The MOU will reduce both supply and price volatility and ensure stable long-term supply of Potassic fertilisers to India.
Significance of Potash
Potash is a source of potassium and is used directly as a combination of 'N' (nitrogen) and 'P' (potash) nutrients in MOP (Muriate of Potash) as well as NPK fertilizers.
India meets 100% of its potash requirement through imports.
India imports approximately 40 LMT MOP annually.
It is a joint venture between leading fertiliser players, Mosaic and Nutrien, and markets Potash being produced at Saskatchewan region in Canada.
Canpotex, Canada is one of the largest suppliers of potash globally, exporting approximately 130 LMT of potash annually.
It exports potash to more than 40 countries and is one of the major suppliers of potash to India.
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