Fertiliser cooperative major IFFCO said it will reduce potash imports by 35 per cent to 6,50,000 tonnes in 2011-12, after Russia’s major exporter Uralkali denied to give a discount price to India.
The country is dependent entirely on imports to meet the current demand of around 6 million tonnes of potash. IFFCO had plans to import 10 lakh tonnes of potash this fiscal.
He was reacting to Uralkali’s statement that it will not offer a discounted price to an individual market and there will not be a revision in potash prices for India.
Awasthi said the decision to cut imports was taken after considering a dip in domestic consumption of potash and phosphate fertiliser following doubling of local prices.
IFFCO has a long-term and healthy relationship with global suppliers especially Russians and had requested them to reduce potash prices in the wake of rupee depreciation vis-a- vis the dollar, he said, adding that some suppliers did accepted the request and slashed the import prices.
The cooperative had demanded slash in potash prices for India by USD 36 per tonne.