potash up 50 dollars a tonne

Potash prices now starting to kick off again

"The contracts were signed with a price increase of US$50 per ton compared to the previous contracts"


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ICL Fertilizers Signs Agreements to Sell Additional Potash Quantities to Indian Customers

Eleven-Month Contracts Signed With Two Major Customers Valued at
Approximately US$300 Million

TEL AVIV, Israel, June 19 /PRNewswire-FirstCall/ -- Israel Chemicals
Ltd. ("ICL") (TASE:ICL), a multinational fertilizer and specialty chemicals
company, today announced that ICL Fertilizers, one of its core business
segments, has signed new potash supply agreements with two major customers
in India. The contracts represent an expansion of the purchase commitments
previously made by these customers.
The agreements call for the purchase of approximately 1.1 million tons
of potash (including options) from ICL Fertilizers during an eleven month
period from July 2007 to May 2008. This compares with 900 thousand tons
purchased by these customers from ICL under previous contracts. The
contracts were signed with a price increase of US$50 per ton compared to
the previous contracts. The value of the contracts is approximately US$300
million compared to approximately US$200 in the previous contracts.
Commenting on the news, Mr. Asher Grinbaum, President and CEO of ICL
Fertilizers, commented, "We are delighted to have signed these agreements
with our major customers in India. These significant agreements are a
testament to the broadening of our activities in India and our increased
focus on developing markets throughout Asia. With a strong belief in the
potential of these markets, we continue to strengthen our positioning
throughout the region and to intensify our efforts to build market share."
About ICL
ICL is one of the world's leading fertilizer and specialty chemicals
companies. ICL produces approximately a third of the world's bromine and
approximately 10% of its potash. ICL is a leading supplier of fertilizers
in Europe and a major player in specialty fertilizer market segments. One
of the world's most integrated manufacturers and suppliers of phosphate
products, ICL has become the world's leading provider of pure phosphoric
acid and a major specialty phosphate player. The Group employs
approximately 9,500 employees worldwide.
ICL is comprised of three core segments: ICL Fertilizers, ICL
Industrial Products and ICL Performance Products. Its major production
activities are located in Israel, Europe, the US, South America and China,
and are supported by major global marketing and logistics networks. ICL
benefits from exclusive concessions to extract minerals from Israel's Dead
Sea, a vast source of high-quality and low-cost potash, bromine, magnesium
chloride and sodium chloride. ICL also mines phosphate rock from Israel's
Negev Desert and potash and salt from its mines in Spain and the UK.
ICL's (Israel Chemicals Ltd.) shares are traded on the Tel Aviv Stock
Exchange (TASE: ICL).

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