Israel Chemicals Signs 3.4 Million Tonne Potash Supply Agreement With China

Globes reported that Israel Chemicals (NYSE:ICL) will supply as much as 3.4 million tonnes of potash over the next three years to its customers in China.
As quoted in the publication:

ICL says in its announcement, “The scale and term of these framework agreements demonstrate the strong and stable relationships between ICL Fertilizers and its customers in China. The agreements, which represent a 3% increase over ICL’s previous three-year framework agreements with its Chinese customers, call for the delivery of 1.1 million tonnes of potash in 2016, 1.14 million tonnes in 2017 and 1.16 million tonnes in 2018. Previous framework agreement quantities of 3.3 million tonnes (including options) were supplied in full.”
ICL says that the new agreements reinforce its position as one of the world’s main suppliers of potash to China, a strategic, large and growing potash market.

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