PhosChem Announces Price Agreement For Existing DAP Contract with Indian Customers
LINCOLNSHIRE, IL, May 30, 2012 – Phosphate Chemicals Export Association, Inc. (PhosChem) reached agreement to supply 500,000 to 700,000 tonnes of diammonium phosphate (DAP) to two large Indian customers for shipments through February 2013. This transaction is part of an existing three-year supply agreement between the parties. The price is $580 per tonne, CFR India.
"This agreement demonstrates our commitment to helping meet the need for phosphate fertilizers in India. We are pleased to reach this agreement and look forward to continuing to serve our Indian customers in the years ahead," said Gordon McKenzie, President of PhosChem.
PhosChem was founded in 1974 in accordance with the provisions of the Webb-Pomerene Act and is the export marketing association for its members. The Act was created to promote U.S. exports. PhosChem is the largest exporter of concentrated phosphate from North America. Its member companies include Mosaic Crop Nutrition, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE: MOS), and PCS Sales (USA), Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT).
Source: PhosChem
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