Potash stocks nourished by 230 % increase $400/tonne price hike but Canadians Where PROFITS go

Apr 16, 2008 | Posted by: Canada | Full story: www.topix.net

- Canadian and U.S. potash stocks were bursting with life Wednesday after a consortium of major Saskatchewan producers announced a US$400-a-tonne price increase for sales this year to Sinofert Holdings Ltd., China's biggest fertilizer distributor.

The new contract calls for shipment of one million tonnes of potash at US$576 per tonne when delivered to the Port of Vancouver, representing a 230 per cent increase over the price in 2007 (not counting the cost of shipments to China.)

The contract negotiated by Canpotex Ltd., the offshore marketing agency for the Saskatchewan potash industry, was announced by Potash Corp. of Saskatchewan Inc. (TSX:POT) - the world's largest potash producer.

In addition to PotashCorp, Canpotex represents Calgary-based Agrium Inc. (TSX:AGU) and Mosaic Co. of Plymouth, Minn. (NYSE:MOS), which has potash mining operations in Saskatchewan.

PotashCorp stated that "as a result of the timing of this settlement and unprecedented demand in other markets," Canpotex has only one million tonnes it can commit to Sinofert through the rest of this year.

"Significantly higher potash prices and extraordinarily tight supply have become much more firmly entrenched since China's previous contract was signed 14 months ago," stated PotashCorp chief executive officer Bill Doyle.

"With the intense pressure on global food production and continued growth in potash demand, this is the reality for our industry for the foreseeable future."

Doyle noted that the settlement with Sinofert - which is one-fifth owned by PotashCorp and is the largest fertilizer distributor in China - "highlights the importance of securing supply in an increasingly tight market."

PotashCorp supplies 54 per cent of Canpotex's requirements.

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1 - 17 of 17 Comments Last updated Jul 12, 2010

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#1
Apr 16, 2008
 
Manufacturing sales in Saskatchewan show increase

4 hrs ago | Leader Post

Saskatchewan manufacturers sold $953 million worth of goods in February, a gain of 0.8 per cent over the previous month, according to a Statistics Canada report released Wednesday.

http://www.canada.com/reginaleaderpost/news/s...

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#2
Apr 16, 2008
 
Potash stocks nourished by $400/tonne price hike for major customer

4 hrs ago | Slam Sports

... making it the country's second most valuable company after Research In Motion (TSX: RIM ) and ahead of Royal Bank of Canada (TSX: RY ). Royal has a stock price of about $60 billion while RIM, maker of the BlackBerry e-mail devices and Pearl ...

http://money.canoe.ca/News/Sectors/Mining/200...

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#3
Apr 16, 2008
 
Reuters Canada Business Summary

5 hrs ago | Globeinvestor.com

... after Chinese importers agreed to pay more than triple what they did a year ago to reserve potash supplies. Bank of Canada's Carney sees strengths in economy OTTAWA (Reuters)- Bank of Canada Governor Mark Carney said on Wednesday there could be a ...

http://www.globeinvestor.com/servlet/story/RO...

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Apr 17, 2008
 

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Kobe Bryan wrote:
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PAUL SHYKORA

Calgary, Canada

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#6
Apr 18, 2008
 

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GOOD!GREAT!GO FORTH!!LONG LIVE SASKATCHEWAN....eh....GOD Bless....eh..

Since: Apr 07

Hermosillo, Mexico

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#7
Apr 18, 2008
 

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Wait till you see the end result when increases are passed along to consumers of products needed to nourish life . Anything grown needs fertilizer . So even grains for cattle, swine will increase in price .

But then the Canadian government is paying farmers to kill hogs in order for the price to increase . Save the $50 million for the Food Banks. Farmers will be killing them voluntarily when they can't afford the fertilizers or feed grown using fertilizer .

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Apr 22, 2008
 

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Now the Tories Reveal Themselves without Video Tape

Thursday Apr 17 | The StarPhoenix

Gov't pulls inner-city kids' dental program

“It was a decision of our government when we look at the human resources needs and the capital needs as we go through the budget process, that has to be our priority”

The Saskatchewan Party government has chopped a dental program for inner-city children introduced by the former NDP government last year. via The StarPhoenix

http://www.topix.com/ca/moose-jaw-sk/2008/04/...

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#9
Apr 23, 2008
 
Opposition NDP calls cut to benefits an attack on Saskatchewan's working poor

2 hrs ago | The Canadian Press

"It's just another blow to the poor people in this province and in this case the working poor," said Iwanchuk."There are people out there who require the program."The program, which was introduced last summer ...

http://www.topix.com/content/cp/2008/04/oppos...

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#10
Apr 26, 2008
 
Potash Corp. reaps record earnings

Saskatoon (Apr 25, 2008)-

Potash Corp. of Saskatchewan Inc.says it expects it will raise its potash price above $1,000 a tonne

to reflect the tight food and fertilizer supplies, but probably not as soon as a

Russian producer expected to hit that level in July...

http://www.thespec.com/article/359745

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Apr 26, 2008
 

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Canada : Just think what food prices are going to be with $1000 / tonne . Already stores like Costco and Sams are rationing rice supplies .

Better get your garden going , get a few chickens and maybe a couple of those surplus Canadian bacon pigs .

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Apr 26, 2008
 
As We Noted earlier here, there's NO FRIGGEN PLAN

Business
Some Toronto grocers putting caps on rice sales
Paola Loriggio Apr. 26, 2008 Step inside Azim Popat's small shop on Gerrard St. E., and you'll see every kind of basmati rice, from the finest polished grain to the cheaper, lower-grade kernels, proudly displayed and piled in 4.5-kilogram ...

http://www.thestar.com/Business/article/41864...

Canada DEAF to growing hunger crisis UN aide says as We Have Proven here on Topix & Similar Comments

Jeffrey Sachs, one of the world's best-known economists, accused the Harper government yesterday of adopting an "antagonistic," and occasionally "mocking," tone toward the implementation of the UN's Millennium ...

http://www.topix.com/world/canada/2008/04/can...
PAUL SHYKORA

Calgary, Canada

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Apr 26, 2008
 
We's ...MUST ALL Work together...eh....Thankyous' All.GOD Bless.....eh...

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Apr 26, 2008
 
PAUL SHYKORA wrote:
We's ...MUST ALL Work together...eh....Thankyous' All.GOD Bless.....eh...
Think You Should Be a Consultant for the Feds Paul

as Canada's Going to Hear more & More of this

Moose Jaw Multiplex Stalled in Planning

http://www.topix.com/ca/moose-jaw-sk/2008/04/...
red

Putian, China

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Sep 27, 2009
 
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Oct 15, 2009
 
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Alien

Regina, Canada

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#23
Nov 1, 2009
 
Sleibhin - you do know that the soils in Saskatchewan do not need potash ? They fertilize with nitrogen and phospate but add absolutely no potash.

However, I will still try to follow your advice and eat some bacon to reduce the oversupply.
james

Putian, China

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#27
Jul 12, 2010
 
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