Ministry of Chemicals and Fertilizers
Dr Mansukh Mandaviya hails Memorandum of Understanding between India’s Rashtriya Chemicals and Fertilizers Ltd and M/s K Plus S Middle East FZE DMCC, a subsidiary of Germany’s K+S Minerals and Agriculture GmBH
M/s K Plus S Middle East FZE DMCC to supply 1,05,000 MT Muriate of Potash (MOP) annually till 2025 at a discounted India specific price
“This Long-Term Agreement will go a long way in ensuring adequate supply of MOP at reasonable price to the Indian Farming community”: Dr Mandaviya
Posted On:
11 OCT 2022 2:46PM by PIB Delhi
Union Minister of Chemicals and Fertilizers, Dr Mansukh Mandaviya was today presented with an MoU signed by Rashtriya Chemicals and Fertilizers (RCF) with M/s K Plus S Middle East FZE DMCC (a subsidiary of K + S Minerals and Agriculture GmbH, Germany). The MoU was signed on 6th October, 2022. The purpose of the MoU is to improve the availability of MOP for the farming community and boost the indigenous production of various grades of complex fertilizers. Shri Bhagwanth Khuba, Union Minister of State for Chemicals and Fertilizers was also present during the occasion.
To ensure fertilizer availability for the farming community, the Government of India has been encouraging the domestic fertilizer industry for establishing supply linkages through long term partnerships with resource rich nations. Given India’s high dependence on imports of raw material and fertilizer 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.
As part of the MoU, M/s K plus S will supply 1,05,000 MT Muriate of Potash (MOP) per annum for the period from 2022 to 2025 at a discounted India specific price. M/s K plus S will supply MOP to M/s RCF for its captive consumption as well as for its trading purposes. This quantity will fulfill the requirement of 60% of captive consumption of RCF.
While congratulating team RCF, Dr. Mansukh Mandaviya stated that “this Long-Term Agreement signed by RCF will go a long way in ensuring adequate supply of MOP at reasonable price to the Indian Farming community”. He expressed that in the current geo-political situation when the international prices of MOP have witnessed extreme volatility, the Long-Term Agreement signed by RCF is a significant step towards maintaining stability of price of MOP in the country.
Shri Arun Singhal, Secretary (Fertilizers), Shri S. C. Mudgerikar (CMD RCF) and other senior officials of Department of Fertilizers were also present.
****
MV
MoCF/MoU-RCF-KPlusS/11 Oct 2022/2
(Release ID: 1866780)
Visitor Counter : 1418