Canpotex signs $60 million potash deal with Bangladesh

April 23 Wed Apr 23, 2014 12:49pm EDT

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April 23 (Reuters) - Canpotex Ltd, the offshore potash sales arm of three big North American producers, will supply up to $60 million worth of the crop nutrient to Bangladesh over the coming year, Canadian International Trade Minister Ed Fast said on Wednesday.

Canpotex is owned by Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc, all of which mine potash in the Western Canadian province of Saskatchewan.

The deal, announced in Saskatoon, Saskatchewan, includes a contract for $40 million worth of potash and an option for Canpotex to supply an additional $20 million worth. Volumes were not disclosed.

Canadian Commercial Corp, the government's international contracting organization, and the Bangladesh Agricultural Development Corporation negotiated the contract. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Lisa Von Ahn)

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