Mosaic to Curtail First-Quarter Phosphate Production

Mosaic Co. says it plans to reduce finished phosphate production by up to 250,000 m.t. through March 31, 2012. "Isolated phosphate market spot prices have become disconnected with the underlying agricultural fundamentals. As dealers and distributors focus on the macroeconomic uncertainty and delay purchases for the North American spring season, near term supply of phosphate barges on the Mississippi River has exceeded near-term demand,” says Jim Prokopanko, president and CEO of Mosaic. “The current spot prices in this market do not reflect our...

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