According to the managing director of Indian Potash, supplies of Canadian potash are not expected to be affected by the diplomatic row between India and Canada. The company hopes to extend its contract with Canadian supplier Canpotex beyond September.
India, with its vast agriculture sector employing about half of its 1.4 billion people and contributing nearly 15% to its $3 trillion economy, is a leading importer of fertilizers. Canada is a key supplier of potash to India, and last year, Indian companies signed a memorandum of understanding with Canpotex to purchase up to 1.5 million metric tons of potash per year for three years, starting in 2023.
Canpotex previously announced a supply contract with Indian Potash for shipments until September 30. Indian Potash Ltd Managing Director P.S. Gahlaut stated that the company does not expect any impact on their potash imports from Canada, as Canpotex’s deals with Indian companies are commercial contracts. He also mentioned that the Canadians have shown their willingness to extend the contract, regardless of political upheavals.
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