Canada’s Canpotex signs $222 million potash deal with India
22 Feb 2010
The world's largest potash exporter Canpotex, a company owned by three North American fertilizer giants last week signed a contract with Indian buyers for the supply of 600,000 tonnes of potash for $222 million, well ahead of the next Indian planting season.
The deal is for the supply of potash to Indian companies Coromandel International Limited and Tata Chemicals Limited during the second quarter covering shipments through June at a price of $370 per tonne on CFR (including freight) basis.
Canpotex is the offshore marketing company owned by the three Saskatchewan potash producing companies: Calgary-based Agrium Inc, a leading global producer of fertilizers; Mosaic Canada Crop Nutrition LP, a subsidiary of the US phosphate and potash giant The Mosaic Company; and Saskatoon-based Potash Corporation of Saskatchewan Inc, the world's largest potash producer.
Potash Corporation supplies Canpotex with 53.6 per cent of its potash, Mosaic 37.1 per cent and Agrium 9.3 per cent.
Canpotex's major markets include Australia, Brazil, China, India, Indonesia, Japan, Korea and Malaysia with annual shipments in the range of 8-9 million tonnes.
Potash is a common name for various potassium compounds used primarily as fertilizer and also for industrial purposes.
