Indian Potash optimistic over potash supplies as a result of signed MoU of Canadian deal despite Nijjar spat
Justification
Indian Potash’s MD P.S. Gahlaut said he hopes to extend a contract with Canadian supplier Canpotex beyond the end of September & Canadians have already signalled their willingness to extend the contract regardless of political upheavals,
Indian firms, leading Canadian fertiliser importers, signed a 3-year MoU with Canpotex starting in 2023 to buy 1.5 million metric tons of potash, aiming to boost agriculture.
India and Canada's diplomatic ties soured significantly due to the expulsion of each other's diplomats in connection with the murder of a Sikh separatist leader in British Columbia, Canada, in June, which has sparked concerns about the stability of Canadian potash supplies.
Indian companies depend on imports for their 4 million metric tons of muriate of potash (MOP) and brought in around 550,000 tonnes between April and September 2023.
