Canpotex, the export arm of Canadian potash producers Agrium, Mosaic and Potash, reported on Friday (Feb 19th) that it had inked a deal with Indian Buyers to the tune of 600,000 tones at a price level of $370 per tonne.

The prior week Canpotex signed a deal to sell 350,000 tonnes to China at an undisclosed price. Analysts estimated the per tonne price of the China contract to be in the $350-$360 range.

Last week, Canpotex signed a deal to sell 350,000 tonnes of potash to China’s Sinofert at an undisclosed price. This lead to a 5% jump on increased volume for all three Canpotex stocks (AGU, MOS, POT).

Potash prices have plunged from near $1000 per tonne highs down to the current $350-$400 range due to global economic difficulties, lowering grain prices and producers using up all of their back-stock of Potash fertilizer.

Friday’s news (Indian contract) itself did little to pop the stock or increase the volume, as both stayed near the levels of Wednesday and Thursday’s sessions. A rough start to the week has pushed POT back below the $110 level, where it was beginning to set up a short-term resistance level.

One Response to “Canpotex Inks 600,000 Tonne Deal with India”

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