Sinochem Macao and Arab Potash Company (Jordan) reached agreement for the supply of 600,000 metric tons minimum of potash to China during 2015. Apart from the firm quantities, the deal also includes optional quantities, the companies announced.
This agreement shows China’s need for potash and its search for the best price, and it doesn’t include Canadian potash, which is used primarily in the U.S., being shipped to China.
The terms and conditions of this agreement reflect the current market prices and terms in China and is also in line with the long term agreement between the two sides signed in Beijing in September, 2013.
This agreement demonstrates the long and successful relationship between the two companies, and the continued importance Arab Potash Company places on the Chinese market, the company noted.