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TEL AVIV, Israel – (BUSINESS WIRE) –ICL (NYSE: ICL) (TASE: ICL), a global leader in specialty minerals and specialty chemicals, today announced it has signed a contract with Indian Potash Limited (IPL), India’s largest importer of potash, to supply a total of 600,000 metric tonnes of potash – with mutual options for an additional 50,000 metric tonnes – to be provided until December 2021. The sale price agreed in the contract is $ 280 per tonne at Indian CIFFO ports, $ 50 per tonne above the previous contract. The contract is part of the five-year supply agreement signed in 2018 between ICL and IPL.
“The contract we signed in India, one of ICL’s strategic markets, is part of the five-year supply agreement we signed in 2018 with IPL. This contract further testifies to ICL’s leadership position in this market and reflects the growing positive dynamics of the fertilizer market on a global scale. Favorable weather conditions, an increase in area planted and a tight supply are contributing to strong global demand for potash, ”said Eli Amon, ICL senior vice president of business.
About ICL
ICL Group Ltd. is a global leader in minerals and specialty chemicals that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth in its end markets. ICL shares are listed on both the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 11,000 people worldwide and its 2020 revenue was approximately $ 5.0 billion.
For more information, visit the ICL website at www.icl-group.com.
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