IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

Ag Demand Grows PotashCorp, Terra, and Yara Profits

2:05 PM MDT | April 28, 2008 | Kerri Walsh and Ian Young

Tight supply for grains and other crops have raised global demand for fertilizers, PotashCorp says. The company’s net income soared 186%, to $566 million ($1.74/share), on sales up 64%, to $1.9 billion. “The pressure to increase global food production drove demand for potash, phosphate, and nitrogen and pushed prices for all three nutrients to new heights,” PotashCorp says. The consensus of analyst estimates was for $1.52/share as reported by First Call (Boston). Selling prices for potash, phosphate, and nitrogen were pushed to record levels...

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