PhosChem Announces New DAP Contract With India

Date:12-12-2007

The Phosphate Chemicals Export Association Inc. (PhosChem) today announced the signing of a diammonium phosphate (DAP) supply contract with a key Indian customer for calendar 2008. Under the terms of this new agreement, PhosChem will supply the customer with 500,000 metric tonnes of DAP, which will be shipped from February 2008 through October 2008, at a price reflecting current spot DAP international market levels. "This contract reinforces the continuing demand for DAP in India and is a reflection of the overall strong international market fundamentals. It also demonstrates PhosChem's commitment to meet the demand of its Indian customers," stated Steve Paxton, President of PhosChem.