{"id":1181647,"date":"2020-04-30T11:24:11","date_gmt":"2020-04-30T16:24:11","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022323"},"modified":"2020-04-30T11:24:11","modified_gmt":"2020-04-30T16:24:11","slug":"belarus-scores-potash-contract-with-chinese-consortium","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1181647","title":{"rendered":"Belarus scores potash contract with Chinese consortium"},"content":{"rendered":"<p>Belarusian potash marketer BPC, the world\u2019s largest exporter of fertilizers, has inked a deal with a consortium of Chinese companies who agreed to buy the commodity for $220 a tonne,\u00a0a $70 per tonne decline on the previous contract.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Supply contracts to China and India traditionally are benchmarks for the fertilizers market. Last year, however, Beijing did not sign new deal due to the oversupply of stocks.<\/p>\n<p>\u201cAlthough this underlines the magnitude of spot price erosion since 2018, it nevertheless sets a new floor for the market, CRU senior potash analyst, Humphrey Knight, told <strong>MINING.COM<\/strong>.<\/p>\n<p>\u201cSuppliers will now hope this finally brings stability to<br \/>\nweak spot prices and ultimately tightens global product availability, Knight<br \/>\nsaid.<\/p>\n<p>BPC noted the difficult macroeconomic conditions in which negotiations took place, citing sharp devaluations in local currencies, historic collapses in oil prices and other commodities, and the ongoing effects of covid-19.<\/p>\n<h2><strong>Stockpiles first<\/strong><\/h2>\n<p>Potash stockpiles are at record high and exporters will likely<br \/>\nwant to clear them as soon as possible, the expert said. This means it will be<br \/>\nmonths before China requires significant fresh supply and, as a result, spot<br \/>\nprices will respond in late 2020.&nbsp;&nbsp;<\/p>\n<p>BPC, the trading division of state-owned miner Belaruskali,<br \/>\ncontrols more than 20% of the global market.<\/p>\n<p>The consortium of Chinese buyers includes state-owned<br \/>\nSinochem&#8217;s fertilizer arm, Sinofert, China National Agricultural Means of<br \/>\nProduction Group and state-owned CNOOC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s the first muriate of potash (MOP) contract since September 2018.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369,2857],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181647"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1181647"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181647\/revisions"}],"predecessor-version":[{"id":1181663,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1181647\/revisions\/1181663"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1181647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1181647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1181647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}