Phosagro, the Russian manufacturer and the world 3rd largest phosphate producer has signed a 3 year contract with Indian potash to supply 1.3 million tonnes of phosphates. Phosphates are key nutrients and di-ammonium phosphate is a key fertilizer around the world. India is the second largest consumer of phosphate fertilizers after China. However, the demand for phosphates has been suppressed due to uncertain economy and the price also slumped downward from USD 680 a tonne to USD 460 in 2014.
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