"Potash export consortium Canpotex will supply China with 630,000 tonnes of the crop nutrient in the second half of 2011 at higher prices, Canpotex said on Wednesday.
The consortium, which is jointly owned by Potash Corp, Mosaic Co and Agrium Inc, indicated the price on the new contract with China?s Sinofert Holdings rose about 17.5 percent over previous contract levels to about $470 a tonne.
The Canpotex deal follows an announcement by Belarusian Potash Co that it had agreed to sell a minimum of 500,000 tonnes to China with options to sell another 200,000 tonnes at $470 a tonne on a cost-and-freight basis.
Most analysts had expected China to settle at a price of $450 a tonne, and the better than expected pricing pushed shares of Potash Corp, Mosaic and Agrium higher in early trading on Wednesday...."
TRH Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
