UPDATE 2-Israel Chem sees 2013 boost from China, India deals
* Q4 revenue $1.34 bln vs $1.44 bln forecast in Reuters poll
* Net profit $209.5 mln vs $224 mln forecast
* To supply 820,000 tonnes of potash to India in 2013
* ICL to pay dividend of 11.6 cents a share
By Tova Cohen
TEL AVIV, March 13 (Reuters) - New potash supply contracts with China and India should lead to a recovery in sales this year at fertiliser and specialty chemical maker Israel Chemicals , which posted a bigger than expected drop in fourth-quarter 2012 revenue and profit.
The world's sixth-largest producer of the crop nutrient - which is a takeover target of global leader Potash Corp - said it expects demand to rise on the back of stronger crop prices and a 2012 slide in fertiliser prices.
"The high price of agricultural products, together with the past year's decline in fertiliser prices, has given farmers a strong incentive to increase fertiliser application," ICL said on Wednesday.
During the first quarter of 2013, ICL signed a number of significant supply agreements with customers in India and China, indicating strong volumes for 2013, the company said. Continued...