Vancouver-Canpotex, the marketing arm of Canadian potash producers PotashCorp. of Saskatchewan, Agrium Inc., and The Mosaic Co., has reportedly reached a deal to sell 70,000 mt of potash to Sinofert for US$26 million. The price works out to roughly $370/mt CFR, slightly higher than the $350/mt negotiated in January between Belarusian Potash Co. (BPC) and Chinese buyers (GM Jan. 4, p. 1). Canpotex negotiated a spot sale of some 350,000 mt of Canadian potash to Sinofert in February (GM Feb. 15, p. 14) at an undisclosed price. It had announced in January that it would not sign a year-long contract at the $350/mt level agreed to by BPC (GM Feb. 1, p. 13), and that it would seek spot contracts with Chinese buyers instead.
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