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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Strong Demand and Prices Lift PotashCorp's Earnings
4:54 AM MDT | July 24, 2008 | Kerri Walsh
PotashCorpâ€™s second quarter net income soared 220%, to $905.1 million ($2.82/share) because of â€śrising global fertilizer demand and the impact of significantly higher prices for potash, nitrogen and phosphate products.â€ť Potash inventories fell â€śto historically low levels around the world,â€ť the company says. North American producer inventories were 41% below the previous five-year average at the end of June, Potash says. Global demand remains unmet, even before including the protracted contract settlements that left China about 3 million m.t. short of...
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