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Canpotex was formed by Potash and two other potash producers in Canada. It is mainly engaged in the promotion of potash fertilizer in overseas markets, and Potash is the second largest shareholder of Sinofert. Therefore, the transaction constitutes a related party transaction.
Sinofert said that China's domestic potash fertilizer production is lower than domestic demand. By signing the supplementary agreement, importing potash fertilizer products will help enrich the Group's business resources and ensure the company's stable supply of potash fertilizer.
China Chemical Network analyst Zhang Ming pointed out that in recent years, China's annual demand for potash fertilizer is approximately 8 million to 9 million tons, and it is expected that the average annual demand after 2011 will be 88.1 million to 1 million tons. The import dependency will follow China's overseas potash fertilizer projects. The gradual drop in production to two, but China is still the world's largest demand for potash fertilizer before 2014.
At present, the price of international potash has risen. Due to the recent rapid growth of international food prices, investors have raised their expectations for the potash industry and will also cause further increases in international potash prices. Including CICC, China Investment Advisors, Hongyuan Securities and other institutions generally believe that the recent domestic potash prices will rise.
CICC believes that the downstream demand for potassium fertilizer remains strong. At present, the port inventories are further reduced, and most of the new arrivals are sold out. The original purchase mode for immediate purchases on the downstream has recently been transformed into a large single purchase, with both manufacturers and suppliers optimistic about the outlook. Potash producers began to control the sales schedule to prevent subsequent prices from being sold.
Chang Yingzhi, a research fellow in the chemical industry of China Investment Advisors, believes that the recent increase in the price of potash fertilizer is mainly influenced by supply and demand. On the one hand, due to the impact of climatic factors, the production of potash fertilizers in China has caused a decline in output, which has caused tight supply of potash; on the other hand, the demand for potash fertilizer in the downstream market of potassium fertilizer has risen, which has caused traders to have no sales pressure, and the price of potash has appeared. A certain degree of increase.
In addition, Potash, the world's largest Potash producer, may be recently acquired by Australian mining giant BHP Billiton. Hongyuan Securities analysts believe that if BHP Billiton succeeds in acquisitions, the potash monopoly situation will further intensify. If the price of potash fertilizers rises, the major domestic potash fertilizer companies will inevitably increase their ex-factory prices accordingly.
Sinofert to purchase 75 million U.S. potash from Canada
On September 29, China's largest fertilizer distributor and importer of chemical fertilizers, Sinofert, issued an announcement that the company’s wholly-owned subsidiary, Sinochem Hong Kong, signed a supplementary agreement with Canpotex Corporation and the company plans to purchase no more than US$75 million from Canpotex, Canada. Potash.