"Belarusian Potash Company"(BPC) gained the exclusive right to export nitrogen fertilizer of "Grodno Azot". The corresponding decree №571 "on the improvement of the regulation of mineral fertilizers export in the economic interests of the Republic of Belarus" was signed on November 5, 2010. This was announced by the BPC Head of Public Relations Philip Gritskov.
Under the decree, «the exclusive right of foreign trade (in terms of exports), mineral or chemical fertilizers, potash (hereinafter — the potash fertilizers), as well as mineral or chemical nitrogen fertilizer, produced by Joint Stock Company » Grodno Azot » (hereinafter — nitrogen fertilizers), is assigned by State and implemented by «Belarusian Potash Company» and public companies «Belaruskali» and » Grodno Azot», BelTA informs.
«In this case, public companies » Belaruskali» and «Grodno Azot» export potash and nitrogen fertilizers beyond the Republic of Belarus and deliver them only to «Belarusian Potash Company», which sells the acquired potash and nitrogen fertilizers outside the republic,» AFN.
In addition, BPC acquired the right of calculations with banks, non-residents of Belarus, associated with obtaining financing, insuring the risks of non-payment or delayed payment for export of potash and nitrogen fertilizers in insurance companies (including foreign insurers, not entitled to carry out insurance activities in Belarus), determined by the funding banks, non-residents of Belarus. «Belarusian Potash Company» may also provide buyers of Belarusian nitrogen fertilizers a delayed payment for up to one year from the date of shipment.
A list of documents, confirming the export of nitrogen fertilizers outside the country, should be defined by December 5 in order to apply a zero VAT rate. In this case, potash and nitrogen fertilizers will be excluded from the list of goods with the limit minimum prices.
In January-September 2010 production of mineral fertilizers in Belarus increased by 87.8% to over 4.7 million tons in recalculation on one hundred percent nutrient content compared with the same period of 2009. Production of potash fertilizers at the same time grew in 2.2 times to more than 4 million tons of nitrogen, nitrogen fertilizers — by 0.6% to 566.5 thousand tons. Delivery of potash fertilizers to the external market in January-August 2010 increased in 2.9 times to more than 2.9 million tons of nitrogen, compared with the same period of 2009, and decreased by 13.8% to 129.3 thousand tons over January-August 2009.
