|PhosChem Announces New DAP Contracts With India|
LINCOLNSHIRE, Ill., Aug. 6 /PRNewswire/ -- The Phosphate Chemicals Export Association Inc. (PhosChem) today announced the conclusion of additional diammonium phosphate (DAP) supply contracts with India for 2007/2008. Under the terms of these agreements, PhosChem will supply India with 550,000 to 600,000 metric tonnes of DAP, which will be shipped from August 2007 through March 2008 at $495 per tonne CFR. This is in addition to the contract of 1.1 million tonnes of DAP announced earlier this year. "India continues to show strong demand for DAP and the global phosphate supply situation remains very tight," stated Steve Paxton, President of PhosChem. "These agreements again demonstrate PhosChem's commitment to serve its customers in the Indian market."
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.