Lower export duty on potash fertilizers to improve financial health of Belaruskali

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June 12, 2017 13:09

For the period from April 1st to December 31st, 2017, Belarus has reduced the export duty on potash fertilizers from EUR 55 to EUR 20 per tonne, including for April and May deliveries in 2017. This decision was due to the lack of significant improvements on the potash market, the price of potash fertilizers in Q1 2017 decreased by 18.5% as compared with 2016. In Q3 and Q4 2017 potash exports would reduce due to major repairs at Belaruskali. Taking into account the estimated annual export volume at 9.5 million tons in 2017, Belaruskali could save some EUR 240 million. These funds could be used to develop the Petrykovskoye deposit and make technical improvements at the enterprise.  If the situation on the potash fertilizer market improves, the state could include the company in the list of highly profitable organizations and withdraw part of the gained profits received.

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