Canpotex Reaches Agreement with Indian Customers

Feb 07, 2013, 09:01 ET from Canpotex Limited

SASKATOON, Feb. 7, 2013 /PRNewswire/ - Canpotex Limited (Canpotex) announces that it has reached agreement with its government and private sector customers in India to supply approximately 1.1 million tonnes of potash for shipment up to January, 2014 at a price of US$ 427.00 per tonne on a CFR basis.

Steven Dechka, Canpotex's President and Chief Executive Officer, stated that this agreement demonstrates the continued importance Canpotex places on the Indian market and on supporting its loyal and long-term customer base in that market.

"We are very pleased to sign supply contracts with our long-term Indian customers, and to continue our history of being a leading supplier to this important market. We look forward to meeting India's future growing potash needs in collaboration with our Indian partners," stated Dechka.

Dechka also stated that Canpotex will continue to collaborate with its Indian customers in implementing new market development programs in India, designed to provide Indian farmers with the educational tools needed to improve yields through balanced fertilization and best management practices.

Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

SOURCE Canpotex Limited