LINCOLNSHIRE, Ill., Feb. 11 /PRNewswire-FirstCall/ -- Phosphate Chemicals Export Association, Inc. (PhosChem) has reached an agreement to supply one million metric tonnes of diammonium phosphate (DAP) to a key Indian customer during the next 13 months. Under the terms of this new contract, the price will be indexed to market pricing. Shipments will occur during the period of March 2008 through March 2009.
"India has a large and growing import requirement and we are delighted to conclude an agreement of this magnitude. This agreement reflects continued strong demand in the international phosphates market," stated Steve Paxton, President of PhosChem.
About PhosChem
PhosChem was founded in 1974 in accordance with the provisions of the Webb-Pomerene Act and is the export marketing association for its members. The Act was created to promote U.S. exports. PhosChem is the largest exporter of concentrated phosphate from North America. Its member companies are Mosaic Crop Nutrition, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE: MOS - News) and PCS Sales (USA), Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT - News News).
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