Canpotex and China’s Sinofert Sign New Contract

Canpotex Limited, a Saskatoon-based exporter of potash, has signed a contract with Sinofert Holdings Limited China, an integrated agricultural company, to supply 630,000 tonnes of potash during the latter half of 2011. It is the second contract concluded under a three-year memorandum of understanding (MOU) the two partners signed in October 2010. Because of Canpotex’s tight supply of potash, the contract volumes are reportedly at the low end of the MOU range. Canpotex is an international marketing and distribution company wholly owned by Agrium Inc., The Mosaic Company, and Potash Corporation of Saskatchewan Inc. It markets and distributes Saskatchewan potash to customers overseas, principally in Asia, Latin America, and Oceania.