An interior view of Potash Corp. of Saskatchewan Inc.'s, facility in Lanigan, Sask.Bloomberg
Potash Corp. of Saskatchewan and its North American fertilizer partners have finalized contracts with its major Chinese customers at what it called "current competitive levels," the company said in a statement.
The North American group is likely selling its crop nutrient for $315 (U.S.) a tonne, which is the same price that its Belarus potash competitor negotiated, analysts said.
That is slightly higher than the $305 price that potash producers negotiated last year.
The North American group called Canpotex is composed of Potash Corp., Calgary-based Agrium Inc. and U.S.-based Mosaic Co. It was established in the 1970s to market potash outside of North America and used to compete with a Belarus-Russian potash cartel before the Russian potash producer killed the arrangement in 2013.
Canpotex said it expects to ship a minimum of 1.8 million tonnes to China, higher than the 1.6 million shipped in the previous year.
Rachelle Younglai