Mr. Gordon McKenzie of PhosChem reports
PHOSCHEM ANNOUNCES PRICE AGREEMENT FOR EXISTING DAP CONTRACT WITH INDIAN CUSTOMERS
Phosphate Chemicals Export Association Inc., the export marketing association for Potash Corp. of Saskatchewan Inc., among others, has priced an agreement to supply approximately one million tonnes of diammonium phosphate (DAP) to two large Indian customers for sales through March, 2012. This transaction is part of a three-year supply agreement for two million tonnes per year that was previously agreed to between the parties. The second-half price will be $677 per tonne, CFR India, reflecting an increase of $65 per tonne over the first-half shipments, due to strong market conditions. "This agreement demonstrates our commitment to serving the growing demand for phosphates in India. We are pleased to reach this agreement and look forward to continuing to serve the Indian market and our Indian customers in the years ahead," said Gordon McKenzie, President of PhosChem