Friday, October 31st9.7°C
23888

Bangladesh becomes new customer for Saskatchewan potash

SASKATOON - Saskatchewan has a new customer for the province's potash.

A contract with Bangladesh worth US$40 million will see Canpotex Ltd. supply 120,000 metric tonnes of potash to the Asian country in the next year.

There's also an option worth another US$20 million for an additional 60,000 metric tonnes of the pink mineral used in fertilizer.

Premier Brad Wall was in Saskatoon when the Canadian Commercial Corp. and the Bangladesh Agricultural Development Corp. signed the deal.

Wall said the agreement will provide more jobs in the potash industry.

He also said the deal was planted when he visited Bangladesh a few years ago.

"We took part in a trade mission about three years ago and I had a chance to meet with the prime minister of Bangladesh at the time," Wall said at the signing Wednesday.

"I talked a bit about fertilizer knowing that we weren't moving any fertilizer (to them) just then."

PotashCorp is one of three branches of Canpotex. CEO Bill Doyle said shipping potash to Bangladesh shows a true change in agriculture in that country.

"Rice is a huge one, but they also grow all sorts of vegetable," Doyle said. "They're self-sufficient now in food. A lot of people don't realize how far Bangladesh has come over the years.

"It's a tremendous accomplishment because they used to have to import a tremendous amount of food, which was a huge drain on their treasury."

Doyle said the contract is actually quite small compared to others. Canpotex struck a potash deal with India for more than one million metric tonnes.

(CJWW)

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14613.32+154.63
S&P CDNX769.59-2.06
DJIA17390.52195.10
Nasdaq4630.742+64.604
S&P 5002018.05+23.40
CDN Dollar0.88750.00
Gold1166.30-32.2999
Oil80.55-0.35
Lumber325.70+2.10
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.125+0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.185+0.0139
Metalex Ventures0.03-0.005
Russel Metals32.85+0.63
Copper Mountain Mining2.09+0.12
Colorado Resources0.125-0.015
ReliaBrand Inc0.015+0.003
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.39+0.015

 





FEATURED Property
2120574311-780 Houghton Road
2 bedrooms 2 baths
$164,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


23091