|PhosChem Announces New DAP Contract With India|
LINCOLNSHIRE, Ill., May 29 /PRNewswire/ -- The Phosphate Chemicals Export Association Inc. (PhosChem) today announced a new diammonium phosphate (DAP) supply contract with India for 2007. Under the terms of this agreement, PhosChem will supply India with 1.1 million metric tonnes of DAP, which will be shipped from June through November at $477 per tonne CFR. "This contract underscores the strong global demand for phosphates during a period when supplies continue to remain tight," stated Steve Paxton, President of PhosChem. "This agreement also highlights Phoschem's beneficial long-term relationship with India."
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 and its member companies include Mosaic Fertilizer, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE: MOS); PCS Phosphate Company, Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT); and CF Industries, Inc. (NYSE: CF).
SOURCE Phosphate Chemicals Export Association Inc.