Phosagro Cuts Fertilizer Prices for India on Rupee Slump
Investing News Network - November 24th, 2011
Bloomberg reported that a lower rupee prompted Phosagro (RTC:PHOR) to lower fertilizer prices for Indian buyers.
Bloomberg reported that a lower rupee prompted Phosagro (RTC:PHOR) to lower fertilizer prices for Indian buyers.
As quoted in the market news:
Phosagro cut current contract prices for India Potash Ltd. and Indian Farmers Fertilizers Cooperative Ltd. In return, IPL and IFFCO, as the Indian companies are known, committed to buying additional volumes, with Phosagro holding a seller’s option over those supplies.