Ammon News - AMMAN (Petra) - Jordan Phosphate Mines Company (JPMC) has signed an agreement with Indian Farmers Fertilizer Cooperative Limited (IFFCO) to export 2 million tons of phosphate to the company for one year, starting from July 1.

JPMC Board Chairman Amer Majali said in a statement, following his return from India, that the price of phosphate would be determined according to its price in the international market, noting that the prices would be reconsidered every three months.

He said the agreement signed with IFFCO was the first to be signed with the Indian market this year because of the decline in the value of the Indian rupee against the US dollar, despite ongoing government subsidies to Indian farmers.