Growing Demand and Prices Boost Fertilizer Earnings

Higher volumes and prices lifted first-quarter earnings of Potash Corp of Saskatchewan (PotashCorp) and Agrium from the year-ago period. PotashCorp’s first-quarter earnings jumped 48% from a year ago, to $186 million, a new record for the company. Sales grew 34% year-on-year, to $1.15 billion, thanks to higher sales in nitrogen, phosphates, and potash. Global potash supply-demand balances are “extremely tight,” nitrogen fertilizer demand is expected to remain strong, and the phosphate market has significantly recovered after an eight-year lag...

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