The company signed an eight-month contract with its main Indian customer for the delivery of one million tons of potash.
Israel Chemicals Ltd. (TASE: ICL) has signed an eight-month contract with its main Indian customer for the delivery of one million tons of potash at an average price of $490 per ton, with an option to deliver an additional 100,000 tons at the same terms. Deliveries will be made between August 2011 and March 2012.
The deal's price is similar to Israel Chemicals and other companies' latest potash contracts in China. In July, Israel Chemicals signed a $235 million contract with China at $470 per ton.
Israel Chemicals' share price fell 5% in morning trading to NIS 49.50, giving a market cap of NIS 63 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2011
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