Canpotex Limited (Canpotex) has finalized annual potash supply contracts, totaling approximately 1.3 million tonnes, with its long-term customers in India. Pricing was confirmed with its customers at a USD 10.00 MT price increase, bringing the new contract price to USD 332.00 MT CFR. This price will remain in effect until March 31, 2016.
Steve Dechka, Canpotex's President and Chief Executive Officer, stated these new agreements demonstrate once again the importance Canpotex places on the Indian market and on supporting its loyal and long-term customer base in India.
"We are very pleased to conclude these new supply contracts with our long-term Indian customers, and continue our role as a leading potash supplier to this growing and important market," stated Dechka.
Dechka also confirmed that Canpotex intends to expand its Indian market development programs in 2015 to help Indian farmers improve yields through balanced fertilization and best management practices. "We look forward to lending further support to Indian agriculture in collaboration with our Indian partners," stated Dechka.