Market Chatter: Canada's Potash Cartel Sells To China At Cut Price

By Staff,

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Canada's potash cartel Canpotex Ltd. has struck a deal to sell one million tonnes of potash to China's Sinofert Holdings Ltd., but at a much lower price than last March, the Globe and Mail reported over the New Year holiday break.

Canpotex, the offshore marketing company controlled by Potash Corp. of Saskatchewan Inc. (POT.TO), Agrium Inc. (AGU.TO), and Mosaic Co. ( MOS ), said on Monday that the new contract's per-tonne price is US$70 less than its last Chinese deal, reached in March. One analyst believes this is a 15% drop.

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This article appears in: Investing Commodities
Referenced Stocks: MOS

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