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China agrees to pay triple for potash fertilizer

WINNIPEG, Manitoba, April 16 (Reuters) - Chinese fertilizer importers agreed on Wednesday to pay more than triple what they did a year ago to get hold of tight supplies of potash, sending the shares of global fertilizer makers to record levels.

China, the world's biggest import market for the nutrient, which is used to boost crop yields, will pay $650 to $670 a tonne for product delivered to its ports, analysts estimated.

"With the intense pressure on global food production and continued growth in potash demand, this is the reality for our industry for the foreseeable future," Bill Doyle, chief executive of Canada's Potash Corp , the world's top
producer, said in a statement…