Belarusian Potash Company outraged by Canpotex’s deal

June 8, BPN. Belarusian Potash Company (BPC) has lashed out at Canada’s Canpotex over the lower-than-expected price of its recent contract.

Canopex announced on June 6 a deal to supply potash to China at $307 per metric ton CFR, which is $283/mt lower than the 2022 contract headline and about $115/mt lower than the price set for Indian buyers in April 2023, BPC said.

“Such a cut-price is devastating for the market equilibrium and gives a misleading signal to the global potash market,” BPC said.

Both BPC, a potash trading company, and Belaruskali, Belarus’ potash giant, are under Western sanctions.

Potash fertilizers are a major export and source of foreign currency for the Belarusian economy.

Over the past few years, Western countries imposed sectoral sanctions on the Belarusian authorities for human rights abuses and their complicity in Russia’s war on Ukraine.

Officials in Minsk argue that sanctions, including on potash, should be lifted because of possible increases in the world’s famine levels.