Indian fertiliser cos to import 3.5 mln T potash at $427/T

MUMBAI Wed Feb 6, 2013 4:33am EST

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MUMBAI Feb 6 (Reuters) - Indian fertiliser companies have agreed to buy potash for 2013 at $427 per tonne and they are likely to buy 3.5 million tonnes of the crop nutrient, an Indian negotiator with overseas suppliers told Reuters on Wednesday.

"We have reached an agreement with suppliers," said P. S. Gahlaut, managing director at Indian Potash Limited (IPL), the biggest potash importer in the country.

IPL has signed deals for 1 million tonnes potash and other Indian buyers are set to sign deals for another 2.5 million tonnes in a week, Gahlaut said.

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