Belarusian Potash Company, the joint venture trader of Russia's Uralkali, is to sign a deal to supply potash to a major Indian buyer at considerably above $500 per ton, a source close to the talks told Reuters.

The source did not provide any details on the time frame or the volume for the deal.

Earlier on Wednesday, BPC said it agreed to sell at least 500,000 tons of potash to China at $470 per ton on a cost and freight basis.