Canpotex Ltd. said it has reached an agreement with Sinofert on a spot sale of approximately 350 thousand MT of Canadian potash at competitive prices. This product is to be shipped to China before the end of March 2010. As a result of this latest spot sale, Canpotex is now fully committed on sales through the first quarter of 2010. Canpotex is the offshore marketing company owned by the three Saskatchewan potash producing companies, Agrium Inc. (AGU, AGU.TO), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (MOS), and Potash Corporation of Saskatchewan Inc. (POT, POT.TO).
Canpotex will also announce plans with respect to second-quarter pricing early in March, after thoroughly reviewing the changing and much-improved overseas potash market conditions.
For comments and feedback: editorial@rttnews.com