China cuts Israeli potash deal

Fertilizer and specialty chemical maker Israel Chemicals said Sunday it had signed contracts with several customers in China to supply a total of 500,000 tons of potash in the first half of 2011.
Israel Chemicals said the price agreed was similar to the price reached by other producers in the market, which reflects an increase of $50 per ton of potash from prices prevalent in 2010. Potash is a key ingredient for making fertilizer.