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.