New Delhi [India], October 11 (ANI): Union Minister of Chemicals and Fertilizers Mansukh Mandaviya was 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), on Tuesday.
The MoU was signed on October 6, 2022. The purpose of the MoU is to improve the availability of Muriate of Potash (MOP) for the farming community and boost the indigenous production of various grades of complex fertilizers.
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 materials 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 fulfil the requirement of 60 per cent of captive consumption of RCF.
While congratulating team RCF, Mandaviya stated, "this long-term agreement signed by RCF will go a long way in ensuring an adequate supply of MOP at a reasonable price to the Indian Farming community".
He expressed that in the current geopolitical situation when the international prices of MOP have witnessed extreme volatility, the Long-Term Agreement signed by RCF is a significant step towards maintaining the stability of the price of MOP in the country.
Arun Singhal, Secretary (Fertilizers), SC Mudgerikar (CMD RCF) and other senior officials of the Department of Fertilizers were also present. (ANI)