ICL announces $170M distribution deal in China, to run until 2028

ICL announced it has signed a five-year agreement with AMP Holdings Group agricultural distribution companies in China . The agreement, valued at approximately $170M, will run until 2028 and advances ICL’s stated goal to expand its Growing Solutions product offerings and to position the business for further growth in major end-markets. The agreement is for specialty water soluble fertilizers, which are used in drip irrigation and designed for cash-crops, such as apples, watermelons, vegetables, strawberries, ginger and grapes. It includes a minimum purchase commitment, with certain exclusivity conditions based on brand and region. The rising demand for specialty fertilizers in China has mirrored the growth of high-value crops there, which is driven by the promising return on investment these crops offer. ..This partnership marks another step forward for ICL, in expanding its footprint in the Chinese market and underscores the company’s commitment to delivering innovative agricultural solutions in response to evolving regional market needs.