UPDATE 1-Canpotex inks potash contracts in Korea, Taiwan

* Says contracts priced in the range of $700/tonne

* Potash Corp shares up 3.3 pct (In U.S. dollars unless noted)

TORONTO, July 9 (Reuters) - Potash Corp of Saskatchewan (POT.TO) (POT.N) said on Thursday its export consortium Canpotex has signed a contract with customers in Korea and Taiwan covering potash shipments for the second half of 2009.

Potash Corp, the world's largest fertilizer maker, said the new contract that varied based on the grade of potash, priced in the range of $700 a tonne on a delivered basis.

Last month, Canpotex -- the international marketing agency of potash producers Agrium Inc (AGU.TO), Mosaic Co (MOS.N), and Potash Corp -- signed a contract with Japanese customers covering shipments for the second half of 2009, which were priced at similar levels.

The price of potash -- a key crop nutrient -- has remained stubbornly high even as demand has collapsed, as a small group of companies, which account for roughly 75 percent of global potash supply, have drastically cut production in a bid to maintain pricing.

Shares of Potash Corp were up 3.3 percent at C$108.85 on the Toronto Stock Exchange on Thursday afternoon.

($1=$1.16 Canadian) (Reporting by Euan Rocha; editing by Rob Wilson)