The Canpotex marketing agency for three of the largest potash producers in Canada has agreed to sell 1 million tonnes of the crop nutrient in the first half of 2013 to a major Chinese customer, The Globe and Mail reports.
Canpotex says the price will reflect a US$70 per tonne decrease in the contract price established in March, 2012.
The agreement is with a subsidiary of Sinofert, China's largest integrated agriculture company and a long-time partner of Canpotex.
Canpotex is jointly owned by Potash Corp. of Saskatchewan, Agrium and Mosaic Corp., a U.S. company with major potash operations in Saskatchewan.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
