Agricultural chemical companies jump on deal that raises price of fertilizer exports to China
NEW YORK (AP) -- Shares of agricultural chemical companies jumped on Wednesday, following news that Saskatchewan potash producers more than doubled the price of fertilizer exports to China.
Under the terms of a contract between Canpotex Ltd., the export association of Saskatchewan potash producers, and China's Sinofert, 1 million metric tons of potash will be shipped at $576 per metric ton, $400-per-metric-ton increase from 2007.
Canpotex members include Mosaic Co., a phosphate and potash fertilizer maker; Agrium Inc.; and Potash Corp. of Saskatchewan Inc.
How some agricultural chemical companies were faring Wednesday morning:
Monsanto Co., up $3.47, or 2.8 percent, to $126.15.
DuPont Co., up 86 cents to $49.79.
Dow Chemical Co., up 61 cents to $38.60.
Potash Corp. of Saskatchewan Inc., up $7.09, or 3.8 percent, to $191.50.
Mosaic Co., up $4.80, or 3.8 percent, to $132.40.
Agrium Inc., up $3.53, or 4.5 percent, to $82.49.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment