potash bucks decline

Potash bucks decline in commodity price index

While oil fell, potash rose. The average spot price for potash at the port of Vancouver was $869 per tonne US in October, up from $862.50 in September.

Canpotex, which represents the three major potash companies of Western Canada, landed most of a major Malaysian sale at $1,000 US, delivered, for the first quarter of 2009. It also negotiated two lucrative contracts with Japan and South Korea for first-half 2009 shipments, said Mohr's report. The Japanese sale was up $200 to $200 per tonne.

"While annual contract negotiations with China may not be concluded until next year, prices to China will likely increase to at least $700 US to $800 over current price levels of about $570 US (Vancouver), as China is paying prices well below market levels," said Mohr.

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