Canpotex inks pact to sell potash to India

Canadian potash marketing arm Canpotex Ltd has agreed to an annual contract with its government and private sector partners in India to supply approximately 1 million tonnes of potash at a price of $ 322 per tonne on a CFR basis. The price – substantially lower than last year’s $427 per tonne - is similar to what Russia’s Uralkali has agreed to sell to India recently.
 
Steven Dechka, President and Chief Executive Officer, Canpotex, stated that this new agreement demonstrates once again the importance Canpotex places on the Indian market and on supporting its loyal and long-term customer base in India. “We are very pleased to conclude these new supply contracts with our long-term Indian customers, and continue our role as a leading potash supplier to this important market,” stated Dechka.
 
Dechka also confirmed that Canpotex intends to expand its market development programs in India in future to help provide Indian farmers with the educational and other tools needed to improve yields through balanced fertilisation and best management practices. “We look forward to lending further support to Indian agriculture in collaboration with our Indian partners,” stated Dechka.
 
Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc; Mosaic Canada Crop Nutrition LP, a subsidiary of The Mosaic Company; and Potash Corporation of Saskatchewan Inc.