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Indian buyers to renegotiate potash contracts following collapse of cartel

3:22 AM MDT | August 2, 2013 | Natasha Alperowicz

Indian Potash (IPL; New Delhi) and Zuari Industries, India’s 2 largest buyers of potash, say they plan to renegotiate their existing contracts, following a decision by Uralkali to withdraw from Belarusian Potash Co. (BPC; Minsk), the potash cartel, which controlled more than 40% of global exports, and sell its own products based on volumes rather than price. Indian companies have been importing 40% to 45% of the country’s needs from BPC. The rest comes from Canpotex, the North American cartel, as well as the Middle East. IPL, India’s largest...

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