TORONTO Aug 3 (Reuters) - Canpotex, the international marketing arm of Canadian potash producers, has settled a long-awaited contract with Indian potash buyers, Agrium's Chief Executive Mike Wilson said on Wednesday.
The consortium, jointly owned by Potash Corp (POT.TO: Quote), Mosaic Co (MOS.N: Quote) and Agrium Inc (AGU.TO: Quote), settled on a 6-month contract to supply Indian buyers with roughly 700,000 tonnes of the crop nutrient, Wilson said on a conference call.
The new contract spans the fourth-quarter of 2011 and first-quarter of 2012, with volumes split equally in both periods, said Wilson.
Wilson said fourth-quarter volumes have been priced at $470 a tonne, in-line with a recent settlement with Chinese buyers, but the first-quarter volumes are priced at $530 a tonne. (Reporting by Euan Rocha; editing by Janet Guttsman)