As a result of recent potash contract settlements in China and India combined with continued solid demand for potash in our other offshore markets, Canpotex is fully committed on volumes for potash sales for shipment through July 2020.
Canpotex has agreed to a contract with its long-term customer, Indian Potash Limited (IPL), for potash shipments through to December 31, 2020, at a price of US$230/MT on a CFR basis.
“Potash plays an important role in growing more food in India, and Canpotex looks forward to continuing to supply potash and support farmer education programs in this expanding and important market,” said Gordon McKenzie, president and CEO of Canpotex.
Canpotex has also agreed to contracts with its traditional customers in China for potash shipments up to October 31, 2020. Selling prices under these contracts reflect prevailing market conditions.
“Canpotex is pleased to conclude contracts with our customers in China and to continue to supply potash to this important market,” said McKenzie. “In addition to these contracts, we are seeing strong support for agriculture in our export markets, as most governments have prioritized agriculture and fertilizer as essential industries in support of food security in their respective countries.”