Uralkaliy halts export sales via Belarusian Potassium Company
The Russian company's board of directors decides to stop export sales via its joint venture with Belarusian potassium giant.
"Uralkaliy-Trading" was set as the only channel for export sales.
"We are sorry to say that our cooperation with the Belarusian partners in the framework of Belarusian Potassium Company has come to a dead end," BelaPAN quotes Uralkaliy General Director Vladislav Baumgertner as saying. "Uralkaliy has always insisted that the export sales of both manufacturers should be conducted via the common commodity distribution network. This fundamental principle of cooperation was broken when Belarusian President signed Decree No. 566 on December 22, 2012 that abolished the exclusive right of the Belarusian Potassium Company to conduct export sales of Belarusian potassium. Following the decree, Belkaliy started delivering behind the back of Belarusian Potassium Company."
Uralkaliy will not benefit from quitting the Belarusian Potassium Company. It may damage both the financial and economic condition of the Russian company, a Belkaliy representative commented on the situation. However, the Belarsuian side has refrained from giving official comments so far, notes Interfax-West.
The Belarusian Potassium Company (BPC) is the biggest exporter of potassium fertilizers. It accounts for 43 percent of potassium sales in the world market. The company ships mineral fertilizers to more than 80 countries and continues to explore new markets. The BPC used to be an exclusive distributor of potassium fertilizers manufactured by JSC Belkaliy and JSC Uralkaliy. Alena Kudravets was recently appointed as the new CEO at Belarusian Potassium Company.
Photo: sb.by
