Higher Selling Prices Boost Fertilizer Earnings

Fertilizer makers posted huge profit growth in the most recent quarter, as pricing gains more than offset slight declines in volumes. Mosaic reported net earnings of $862.5 million for its fiscal fourth quarter ended May 31, a more than four-fold increase over the same period last year. Sales doubled, to $3.46 billion. “Substantially higher” selling prices, particularly for diammonium phosphate and muriate of potash, helped boost Mosaic’s earnings, the company says. Operating income in Mosaic’s phosphates segment rose 240%, to $797.4...

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