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Deal signed to bring Saskatchewan potash to Bangladesh

Canadian Commercial Corporation signs deal for Canpotex to supply potash to Bangladesh. File / Global News

SASKATOON – A major signing in Saskatoon on Wednesday will see Canpotex supply potash to Bangladesh.

The deal worth US$40 million was signed between Canadian Commercial Corporation and Bangladesh Agricultural Development Corporation.

There is also a US$20 million option.

This is the first government-to-government sale arrangement between the two countries and corporations.

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Saskatchewan Premier Brad Wall welcomed the deal, saying it will not only benefit the province, but also the people of Bangladesh.

“It provides Canpotex with new opportunities and access to a country that really needs our potash to boost its agricultural production and achieve its food security goals,” said Wall.

“For our province, the deal means potash becomes a major new part of our export mix to Bangladesh, a very important export market for Saskatchewan, a market where Saskatchewan is Canada’s leader.”

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Last year, Saskatchewan exported more than $326 million in goods to Bangladesh, accounting for nearly half of Canada’s exports to that country.

Canadian Commercial Corporation is a federal Crown corporation and acts as Canada’s international contracting and procurement agency.

Canpotex is the marketing arm of the three current potash producers in Saskatchewan – PotashCorp, Agrium and Mosaic.

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