Canpotex finalizes pricing deal with China
Canpotex — the North American consortium representing PotashCorp, Mosaic and Agrium — said Monday it has finalized supply contracts with its major Chinese customers for 2015 shipments.
The marketing arm for the three potash producers expects to ship approximately 1.8-million tonnes of the fertilizer ingredient during the year, up from 1.6 million in 2014, and may be as much as 2.5 million tonnes, depending on supply, demand and logistics.
“We believe these settlements help position our key customers in this region for continued growth and highlight Canpotex’s increasingly important role in supporting China’s rising potash needs,” said Steve Dechka, Canpotex’s president and chief executive officer.
While Canpotex did not release price terms, it is believed the group will be selling its crop nutrient for US$315 per a tonne, which is the same price that its competitor Belarus negotiated earlier in March.