Canpotex Signs Potash Deal with Sinofert; Lower Volumes Reflect Supply Shortage

Canpotex (Saskatoon, SK), the exclusive offshore potash marketing company owned by Agrium, Mosaic Canada Crop Nutrition, and Potash Corporation of Saskatchewan (PotashCorp), has signed a contract with Sinofert Holdings (Beijing) to supply 600,000 m.t. of potash during the first six months of calendar 2011. The price levels are similar to those recently established for new seaborne imports of potash to China, reflecting a $50/m.t. increase over the 2010 China price level, Canpotex says. The deal is the first concluded under a new three-year memorandum of...

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