On Nov. 20, Premier Brad Wall witnessed the signing of two new marketing agreements that will see millions of tonnes of Saskatchewan potash shipped to India over the next few years.
Canpotex, the off-shore marketing arm of Saskatchewan potash producers, signed separate sales agreements with Coromandel International Ltd. (CIL) and Tata Chemicals Limited (TCL). The two companies, along with Indian Potash Limited (IPL), were also recognized by Canpotex for their long-time patronage.
In addition, Canpotex signed an Enhanced Market Development Agreement with each of the three companies to promote the use of potash in India.
Canpotex supplies about 25 per cent of the potash used in India, which is the company's fourth largest offshore market.
Wall is in India on a week-long trade mission.
"With a growing economy and large population, India is an important market for our potash producers and we're thankful for these purchase agreements," Wall said. "We have a strong commercial relationship that should only get stronger as Indian farmers begin to see the value of potash in a balanced fertilizer application. Potash has helped Saskatchewan farmers become among the most productive farmers in the world and it can do the same for Indian farmers."
"Canpotex is honoured to have served CIL, IPL and TCL for many years and grateful our relationship will continue into the future," Canpotex President and CEO Steve Dechka said. "We look forward to working with our partners to help Indian farmers improve their productivity and feed this dynamic, growing country."
The Premier also delivered a keynote address to more than 600 farmers, in which he touted the benefits of potash.
Saskatchewan is the largest exporter to India among the provinces, shipping about $1.0 billion worth of goods in 2013. The province's exports to India have increased 67 per cent since 2007. Saskatchewan imports from India have climbed by 244 per cent in the same period.
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