Coromandel International, Chambal Fertilizers and Indian Potash sign MOU with Canada's Canpotex

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“The MOU will reduce both supply and price volatility and ensure stable long-term supply of Potassic fertiliser to India. Government of India has been encouraging the domestic fertiliser industry for establishing supply linkages through long term partnerships with resource rich nations. Given India’s high dependence on imports of raw material and fertiliser minerals, these partnerships provide secured availability of fertilizers and raw materials over a period of time and also offer price stability in volatile market conditions.", Mandaviya said.

Detailing the conditions of the MoU the minister stated that Canpotex will supply upto 15 LMT of Potash annually for a period of 3 years to the Indian Fertilizer companies.

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The signing of the MoU is likely to and reduce supply side and price vulnerabilities as India heavily relies on imports of potash for agriculture.

Highlighting the larger goal, the minister also talked about how improvements made in the availability of muriates of potash will improve the welfare of the agricultural community and in-turn ccontribute towards ensuring food security.

The Minister of Chemicals and Fertilizers talked about India's efforts at reducing import dependence by including Potash derived from molasses in the Nutrient Based Subsidy Scheme (NBS) scheme to support indigenous production of Potash.