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Canpotex JV reaches new agreement with Sinofert

Canpotex Limited, the exclusive offshore marketing company owned by Agrium (AGU), Mosaic (MOS), and Potash Corporation (POT), announced earlier that it has reached agreement with Sinofert, China’s largest integrated agricultural company, to supply 1,000,000 tonnes of potash in the first half of calendar year 2013 at price levels which reflect a $70.00 per tonne reduction from the last contract price established in March, 2012. The agreement is pursuant to the three-year Memorandum of Understanding signed with Sinofert in October, 2010.