| Russia's Uralkali agrees $10/tonne increase in sales to China | |
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* To boost supplies by 21 pct to 850,000 T (Adds details, context) MOSCOW, April 10 (Reuters) - Russia's Uralkali, the world's biggest potash producer, has agreed a less than planned $10 per tonne increase in sales this year to China, the world's largest consumer of the crop nutrient. The potash market came under pressure as competition between producers strengthened sharply after Uralkali broke away from a trading venture with Belarus in 2013. Uralkali agreed to supply 850,000 tonnes of potash at $315 per tonne on a cost and freight (CFR) basis in 2015, the company said in a statement, equal to the price agreed by Belarus with China in March. The contract agreed by Belarussian Potash Co has set a benchmark for other producers despite being criticised by Uralkali as it had been negotiating an increase of $30 per tonne. Uralkali's main rival Canpotex Ltd, the offshore potash sales arm of North America's Potash Corp of Saskatchewan , Mosaic Co and Agrium Inc, signed a contract with China in late March, but did not release price terms. Uralkali's 2014 contract had set out terms for supply of 700,000 tonnes of potash to China at $305 per tonne on the CFR basis. The focus of producers is likely to switch now to India, another large potash consumer, which is yet to sign 2015 contracts. Officials from Uralkali are expected in India in the third week of April. (Reporting by Polina Devitt; Editing by David Holmes)
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Potash Corporation of Saskatchewan Inc.
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CODE : POT.TO |
ISIN : CA73755L1076 |
CUSIP : 73755L1076 |
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Potash Corp. is a producing company based in Canada. Potash Corp. is listed in Canada. Its market capitalisation is CA$ 21.7 billions as of today (US$ 17.2 billions, € 14.4 billions). Its stock quote reached its lowest recent point on March 24, 1995 at CA$ 10.00, and its highest recent level on September 21, 2007 at CA$ 99.07. Potash Corp. has 840 009 984 shares outstanding. |