As part of a trade mission to Asia, Premier Brad Wall took part in a meeting which concluded with the signing of four five-year potash agreements between Canpotex and an Indonesian consortium of potash buyers. The Memorandums of Understanding (MOUs) were signed Tuesday evening in Jakarta, Indonesia and will provide Indonesia with the potash supplies it will require in the future to meet its fast growing demand.
“The people of our province are in the enviable position of owning 45 per cent of the world’s potash reserves,” Wall said. “As such, it is incumbent on us to get to know our potash customers, understand their needs and interests, and build the bridges that help our industry grow in key international markets.”
Indonesian imports of potash from Saskatchewan have risen by 85 per cent over the last five years. Indonesia uses Saskatchewan potash to grow crude palm oil, rice, maize and cash crops.
“Indonesia is one of the most exciting, rapidly growing potash markets in the world and Canpotex is the largest supplier of potash to this important market,” Canpotex President and CEO Steven Dechka said. “It’s very helpful, therefore, to have Premier Wall visit Indonesia and build on our relationships in this country, which are so important to Saskatchewan’s economic future.”
In addition to potash, Indonesia imports other goods from Saskatchewan such as semi-chemical wood pulp, non-durum wheat and peas. Close to 50 per cent of the recorded exports to Indonesia from Canada come from Saskatchewan.
Premier Wall’s stop in Indonesia marks the first time a Saskatchewan Premier has ever visited the country. Indonesia is the last of four countries to be visited by Wall on a nine-day trade mission to Asia.