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Indian Fertiliser companies sign MOU with Canpotex, Canada one of the largest Potash suppliers globally

Newdelhi::28/9/22:In a significant step towards ensuring long-term fertilizer availability for the farming community, India’s fertilizer companies- Coromandel International, Chambal Fertilizers and Indian Potash Limited signed an MoU with Canpotex, Canada on 27th September 2022. The MoU was presented to the Union Minister of Chemicals and Fertilizers Dr. Mansukh Mandaviya, here today. Canpotex, Canada is amongst the largest suppliers of Potash globally, exporting around 130 LMT of product annually.

Union Minister Chemicals & Fertilizers hailed the signing of long-term agreements between the companies for the supply of MOP (Muriate of Potash) to the Indian farmers. Calling this a path-breaking step, Dr. Mansukh Mandaviya stated that “The MOU will reduce both supply and price volatility and ensure the stable long-term supply of Potassic fertilizer to India. The government of India has been encouraging the domestic fertilizer industry for establishing supply linkages through long-term partnerships with resource-rich nations. Given India’s high dependence on imports of raw material and fertilizer minerals, these partnerships provide secured availability of fertilizers and raw materials over some time and also offer price stability in volatile market conditions.”

He added that “As part of the MoU, Canpotex, Canada will supply up to 15 LMT of Potash annually for 3 years to the Indian Fertilizer companies. This supply partnership is expected to improve the fertilizer availability within the country and reduce supply side and price vulnerabilities”

Underscoring the importance of the MOU ahead of the upcoming cropping seasons, Dr. Mandaviya stated that “This is a significant initiative as it will improve the availability of MOP for the farming community, uphold their welfare and contribute towards ensuring food security in the country”. He added that this MOU will lead to “strengthening of our mutual relationship and furthering bilateral relations between the two countries”.

Dr. Mandaviya highlighted that the Government of India is working towards long-term MOUs for Potash and other fertilizers with countries like Russia, Israel, and others. Aiming at reducing import dependence, the Department of Fertiliser has included PDM (Potash derived from Molasses) in the Nutrient Based Subsidy Scheme (NBS) scheme to support indigenous sources of Potash. Similar initiatives have been taken in fertilizers industries for manufacturing Potash from Spent Wash.

Background:

Potash, which is the source of Potassium, is used both for direct application as MOP as well as in combination with ‘N’ & ‘P’ nutrients in NPK fertilizers. India meets 100% of its Potash requirement through imports. The country imports approximately 40 LMT MOP annually.

Canpotex is a joint venture between leading fertilizer players, Mosaic and Nutrien, and markets Potash being produced in the Saskatchewan region in Canada. It is amongst the largest suppliers of Potash globally, exporting around 130 LMT of product annually to more than 40 countries, and has been one of the suppliers to India.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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