31 May 2012 14:55 [Source: ICIS news]
HOUSTON (ICIS)--The Phosphate Chemicals Export Association (PhosChem) has reached an agreement to supply 500,000-700,000 tonnes of diammonium phosphate (DAP) to two large Indian customers for shipments through February 2013, the North American marketing group said on Thursday.
The price for the DAP in the agreement is $580/tonne (€470/tonne) CFR India, PhosChem said.
The transaction is part of an existing three-year supply agreement between PhosChem and the Indian buyers.
"This agreement demonstrates our commitment to helping meet the need for phosphate fertilizers in India," said Gordon McKenzie, president of PhosChem.
PhosChem was founded in 1974 and is the export marketing association for its members Mosaic Crop Nutrition, a wholly-owned subsidiary of The Mosaic Company, and PCS Sales (USA), an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan.
($1 = €0.81)
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