Canpotex reaches potash deal with Indian customers

SASKATOON – Canpotex has reached a deal to supply potash to customers in India. Terms of the deal were announced Friday in Saskatoon.

Under the annual supply contracts, Canpotex will ship 1.3 million tonnes of potash to long-term customers in India. The new contract also sees the price per metric tonne increase by US$10 to US$332 until March 31, 2016.

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Canpotex’s president said the new agreement underscore the importance it places on the Indian market and supporting loyal and long-term customers.

“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 Steve Dechka.

READ MORE: Canpotex finalizes potash deal with China

Dechka also said Canpotex will expand its Indian market development programs during the year to help farmers improve yields.

Saskatoon-based Canpotex is the marketing arm for three Saskatoon potash producers: Agrium, Mosaic and PotashCorp.