Russia’s OAO Uralkali on Monday signed a deal to supply potash to a Chinese agrochemical consortium at US$305 a metric ton, the Wall Street Journal reported. Under the deal, the Russian potash producer will sell 700,000 tons of the fertilizer additive to the Chinese National Agricultural Means of Production Group Corp. in the first half of this year. “The terms of the agreement with our Chinese partners are mutually beneficial and serve the interests of our consumers, agricultural producers of [China],” Oleg Petrov, Uralkali’s director for sales and marketing, was quoted as saying. China is the world’s biggest consumer of potash and contracts signed there have previously been seen as setting the price for the global market, the Journal noted.
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