|PhosChem Announces New DAP Contract With India|
|LINCOLNSHIRE, Ill., Dec 12, 2007 /PRNewswire via COMTEX News Network/ -- The Phosphate Chemicals Export
Association Inc. (PhosChem) today announced the signing of a diammonium
phosphate (DAP) supply contract with a key Indian customer for calendar 2008.
Under the terms of this new agreement, PhosChem will supply the customer with
500,000 metric tonnes of DAP, which will be shipped from February 2008 through
October 2008, at a price reflecting current spot DAP international market
levels. "This contract reinforces the continuing demand for DAP in India and
is a reflection of the overall strong international market fundamentals. It
also demonstrates PhosChem's commitment to meet the demand of its Indian
customers," stated Steve Paxton, President of 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 and its member companies include Mosaic Fertilizer, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE: MOS) and PCS Phosphate Company, Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT).
SOURCE The Phosphate Chemicals Export Association Inc.