Belaruskali signs deal with Qatar's distributor

Belarusian potash giant Belaruskali has signed a framework agreement with Qatar's state-owned distributor Muntajat.

Salihorsk-based Belaruskali said that the deal, which was signed in Doha on August 5, was part of its new export strategy devised after Russian company Uralkali's decision to stop exports through a joint trader.

Muntajat expressed readiness to sell up to three million tons of Belaruskali's potash annually, including in markets where the Belarusian company had not sold its products before.

Representatives of Belaruskali and Muntajat also discussed the Belarusian company's projects to create its logistics infrastructure and distribution network in Brazil. The matter was under discussion during a Belaruskali delegation's visit to the South American country last week.

"Particular attention" at the Doha talks was devoted to the manufacture of compound fertilizers as Muntajat is a key supplier of nitrogen fertilizers, said the press office.

Uralkali quit its trade cartel with Belaruskali last week, a decision that is likely to reshape the world's potash market and send global prices down.

Economists predict that Belaruskali will see its profitability go down as a result.