ICL inks potash deal
Israel Chemicals Ltd. has signed contracts to supply Chinese companies with some 550,000 mt of potash during the second quarter of 2012. There is also an option to supply an additional 120,000 mt. The pricing is unchanged from the previous contracts to China at $470/mt CFR.
The 550,000 mt represents an increase over the 500,000 mt achieved in the year-ago period. “The new agreements underscore our strategic decision back in 2010 to increase the number of customers in China and to sell directly to fertilizer producers and distributors,” said Danny Chen, ICL Fertilizers CEO.