Potash Ores Market Continues To Witness High Growth With Uralkali Entering Into A Supply Contract With The Government Of India For The Supply Of Potash
Potash ores are raw materials that are utilized for manufacturing fertilizers, potash, and other artificial chemicals. It generally contains potassium chloride (chloride) in the first stage, boron (calcium chloride) in the second stage, silica (silicic acid) in the third stage, and calcium fluoride (calcium sulfate) in the last stage. One of the major reasons behind high demand for potash ores is high production of fertilizers in the agriculture sector. Over the years, the agriculture sector in both developed and emerging economies have witnessed massive growth. As per the India Brand Equity Foundation (IBEF), in FY 20, Indian agriculture, forestry, and the fishing sector were valued at US$ 276.37 billion. Besides, as per the Food and Agriculture Organization of United Nations, fertilizer demand was valued at 186.07 million tons in 2016 and is expected to reach 201.66 million tons by 2020 worldwide. Hence, such factors can augment growth of the potash ores market. Another key applicati...