China’s import contract price of potash fertilizers will be down US$283/t YoY to US$307/t (CFR) this year – a consensus China’s negotiating group and international supplier Canpotex reached on June 6 – as well as a strong support for agricultural production of China, which has potash fertilizer self-sufficiency rate of only around 50% and therefore has to import 6-9 million tons of potash fertilizers per year.

The price of US$307/t – remaining low in the world – is an outcome of experience and expertise of negotiating group members such as Sinochem, which has been making efforts to guarantee domestic supply of potash fertilizers, strengthen strategic cooperation relations with international suppliers, etc. Through importing, Sinochem has supplied over 65 million tons of potash fertilizers since 2000, playing a big role in improving domestic grain output and quality and ensuring food security.