Mosaic Announces Canpotex Potash Contract With China

21-Apr-2008

The Mosaic Company announced that Canpotex Limited, the export association of Saskatchewan potash producers, has reached a potash supply agreement with Sinofert in China for the remainder of calendar 2008. The new contract calls for shipment of one million tonnes of potash at $576 per tonne, FOB Vancouver, representing a $400 per tonne increase over the price in 2007.

"We are pleased that Canpotex has finalized negotiations with our Chinese customers and we look forward to resuming shipments to them soon," stated Jim Prokopanko, Mosaic's President and Chief Executive Officer.

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