PLYMOUTH, Minn., March 27 /PRNewswire-FirstCall/ -- The Mosaic Company announced today that Canpotex Limited, the export association of Saskatchewan potash producers, has reached an agreement to supply 1.3 million metric tonnes of potash to its key Indian customers at $625 per metric tonne CFR. This represents a volume increase of 350,000 metric tonnes and a price increase of $355 per metric tonne from the prior year contract. Shipments will occur during the period between May 2008 and March 2009. The contract includes credit terms of 180 days.
"In this period of unprecedented demand, we are very pleased to have concluded these negotiations and this purchase demonstrates the importance of a timely settlement to ensure supply of potash for the upcoming planting season. India continues to be an important partner of Canpotex and we highly value our relationship with these strategic customers," stated Jim Prokopanko, Mosaic's President and Chief Executive Officer.
Canpotex members include Agrium Inc., a subsidiary of The Mosaic Company and Potash Corporation of Saskatchewan Inc.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at http://www.mosaicco.com/.
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The Mosaic Company
