Canpotex, Sinofert sign new potash-supply deal

Canpotex, Sinofert sign new potash-supply deal

9:18 AM, 2nd January 2013
Canpotex, Sinofert sign new potash-supply deal

TORONTO, CANADA: Canpotex Ltd has reached a new potash-supply deal with China’s Sinofert Holdings Ltd, covering the first half of 2013 at price levels of $70 a metric tonne lower than the last contract price established in March 2012. Canpotex doesn’t disclose specific prices for its supply agreements. Potash-market watchers had said the March 2012 deal was at about $470 a tonne.

The latest agreement with Sinochem Fertilizer Macao Commercial Offshore Ltd is for the supply of 1 million metric tonne of the key fertilizer ingredient, said Canpotex in a statement. According to Canpotex, the agreement ‘demonstrates the continued confidence Sinofert has in Canpotex’s ability to meet the growing needs for potash in the important China market.’

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