Canpotex Signs New Contracts in India

SASKATOON, Aug. 3, 2011 /PRNewswire/ - Canpotex Limited (Canpotex) today signed contracts with its long-term Indian contract customers, Coromandel International and Tata Chemicals, to supply 670,000 tonnes of potash during the period October 1, 2011 to March 31, 2012.

Pricing under these contracts is US $470.00 per tonne CFR for 50% of the contract volumes (for shipment during fourth quarter, 2011) and US $530.00 per tonne CFR for 50% of the volumes (for shipment during first quarter, 2012).

"India is one of the largest potash markets in the world, and these new contracts are indicative of our ongoing commitment to this important and growing market. As a result of this settlement, Canpotex is now fully committed for sales in the fourth quarter of 2011," stated Mr. Steve Dechka, Canpotex's President and Chief Executive Officer.

Canpotex's long-term Indian customers collaborate with Canpotex in delivering market development programs that provide farmer education to improve yields through balanced fertilizer applications and other best farming practices.

Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX andNYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX andNYSE: POT).

SOURCE Canpotex Limited