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BPC agreed a potash contract with a Chinese buying consortium of Sinofert, CNAMPGC and CNOOC at US$290/t CFR for supply from October 2018 through June 2019. The price is US$60/t above the 2H17 contract and matches the India settlement reached at the end of August.
A higher benchmark Chinese potash price resets global potash values upward, raising fertilizer costs for farmers in the coming crop year. Chinese importers' margins are narrowing, which could slow future buying.
worldfertilizer.comRobyn WainwrightSep 18, 2018
morningstar.comSeth Goldstein, CFASep 17, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
