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.
http://www.canada.com/saskatoonstarphoenix/news/story.html?id=ba39c060-d1d5-403d-b83a-ef1a481f59b7
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