Chinese deal - sort of doneCanpotex sets potash supply deal with Sinofert
8:33am EST
* To supply 350,000 tonnes of potash to Sinofert
* Says supply deal is at a competitive price
TORONTO, Feb 8 (Reuters) - Canpotex, the export arm of Canadian potash producers, said on Monday that it had signed a deal to sell about 350,000 tonnes of potash to China's Sinofert <0297.HK> at competitive prices.
Canpotex's biggest rival, Belarussian Potash Co, or BPC, struck a deal in December to supply Chinese buyers with potash at a delivered price of $350 a tonne, and other exporters like Israel Chemicals <ICL.TA> followed suit.
But Canpotex, which typically concludes its annual contract with Chinese buyers at the same price as BPC, balked at $350 a tonne, and extended negotiations between the two sides have continued.
Canpotex, whose owners are Potash Corp <POT.TO>, Mosaic Co <MOS.N> and Agrium Inc <AGU.TO>, did not announce the exact price it has settled on, but indicated that the crop nutrient would be shipped to China before the end of March.
Canpotex said it was now fully committed on sales through this quarter and would announce second-quarter pricing plans in early March. (Reporting by Euan Rocha; Editing by Lisa Von Ahn)