PhosChem Announces 1.25 Million Metric Tonne DAP Contract With Indian Customers

LINCOLNSHIRE, Ill., Feb. 18  /PRNewswire/ -- Phosphate Chemicals Export Association, Inc. (PhosChem) has reached agreement to supply 1.25 million metric tonnes of diammonium phosphate (DAP) to two large customers in India. Under the terms of this annual contract, the price will be indexed to market pricing.  Shipments will begin in March 2009.

"This agreement demonstrates our commitment to serving the growing demand for crop nutrients in India.  We are pleased to reach this agreement and look forward to serving our Indian customers in the years ahead," said Steve Paxton, President of PhosChem.

About PhosChem

PhosChem was founded in 1974 in accordance with the provisions of the Webb-Pomerene Act and is the export marketing association for its members. The Act was created to promote U.S. exports.  PhosChem is the largest exporter of concentrated phosphate from North America.  Its member companies include Mosaic Crop Nutrition, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE:MOS), and PCS Sales (USA), Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT).

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future operations. Such statements are based upon the current beliefs and expectations of management of PhosChem and its members and are subject to significant risks and uncertainties. These risks and uncertainties include but are not limited to the predictability and volatility of, and customer expectations about, agriculture, fertilizer, raw material, energy and transportation markets that are subject to competitive and other pressures and the effects of the current economic and financial turmoil; international trade risks; changes in government policy; changes in environmental and other governmental regulation; adverse weather conditions affecting operations of PhosChem's members, including potential hurricanes or excess rainfall; actual costs of asset retirement, environmental remediation, reclamation or other environmental regulation differing from management's current estimates; accidents and other disruptions involving PhosChem's members' operations, including potential releases of hazardous or volatile chemicals, as well as other risks and uncertainties reported from time to time in the respective reports of PhosChem's members filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. 

DATASOURCE: PhosChem



CONTACT:  Christine Battist of The Mosaic Company, [phone],

; or Denita Stann of PotashCorp, [phone],

, both for PhosChem

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