Canadian exports of potash to Bangladesh in 2022 were valued at more than $500 million
By Diego Flammini
Canada will be exporting more potash to a South Asian country.
On March 17, federal Trade Minister Mary Ng announced a contract between Canpotex, a Saskatchewan-based potash supplier, the government of Bangladesh and the Canadian Commercial Corporation.
Established in 1946, the Canadian Commercial Corporation is a Crown corporation that supports international trade by helping Canadian exporters access foreign government buyers.
Through this contract, the volume of Canadian potash exported to Bangladesh will increase.
In 2022, Bangladesh imported about $500 million of Canadian potash.
This agreement is a win for all involved, said Mary Ng, Canada’s federal trade minister.
“The sale of Canadian potash to Bangladesh, made possible through the hard work of the Canadian Commercial Corporation, shows our commitment to being a reliable partner and quality supplier of agricultural products in the Indo-Pacific region,” she said in a statement. “Canada is a global leader in helping to address challenges in global supply chains, all while promoting Canadian values and protecting good, middle-class Canadian jobs.”
Canada has supplied Bangladesh with potash since 1972, totaling more than 907,000 tonnes, the Asian Pacific Foundation of Canada says.
In April 2014, Canada signed its first government-to-government contract with Bangladesh to export potash.
And in November 2022, Bangladesh’s government approved a proposal worth $55.8 million to import 50,000 tonnes of Muriate of Potash.
Bangladesh is Canada’s fourth largest pulse export market and a major market for high quality wheat.
Farms.com has contacted Canpotex for comment on the contract.