Canpotex, Sinofert sign new contract for potash supply

SASKATOON, CANADA: Canpotex Limited signed a contract with Sinofert Holdings Limited to supply 500,000 tonne of potash in second quarter of 2012. The new contract includes an option to increase this tonnage by an additional 200,000 tonne for delivery during that same period. Pricing is unchanged from the previous second half 2011 contract.

The contract is the third concluded under the three-year Memorandum of Understanding signed with Sinofert in October, 2010. Steven Dechka, Canpotex’s President and Chief Executive Officer, stated that this latest contract demonstrates the continued confidence Sinofert has in Canpotex’s ability to meet growing needs for potash in the China market.

Sinofert is China’s largest integrated agricultural company and a long-term business partner of Canpotex. Sinofert and Canpotex continue to collaborate on extensive market development programmes in China that provide Chinese farmers with educational tools needed to improve yields through balanced fertilizer application and other best farming practices.

© WOC News