UPDATE 1-Uralkali agrees 24 pct potash price discount for China
(Adds details on buyers, quote, context)
MOSCOW, Jan 20 (Reuters) - Russia's Uralkali , the
world's top potash producer, has agreed a supply deal with China
for the first half of 2014 at a 24 percent discount, the company
said on Monday, in a move that may offer the global market a new
floor price.
Uralkali said it had agreed to sell 700,000 tonnes of potash
to Chinese buyers at a price of $305 per tonne on a cost and
freight (CFR) basis in the first half of 2014, down from $400 a
tonne a year ago.
"The contracts between Uralkali and the Chinese companies
clearly testify to growing demand and the beginning of market
recovery," Oleg Petrov, Uralkali head of sales, said in the
statement.
The deal was reached between Uralkali and a consortium
headed by CNAMPGC, a leading Chinese agrochemical corporation,
Uralkali said.
CNAMPGC plans to buy 600,000 tonnes of potash, while China's
state-owned conglomerate Sinochem Corp [SASADA.UL] has agreed to
buy 100,000 tonnes, a source familiar with the deal told
Reuters. Uralkali declined to comment on those details.
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