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Strong Demand and Prices Lift PotashCorp's Earnings

4:52 AM MDT | July 24, 2008 | Kerri Walsh

PotashCorp’s second quarter net income soared 220%, to $905.1 million ($2.82/share) because of “rising global fertilizer demand and the impact of significantly higher prices for potash, nitrogen and phosphate products.” Potash inventories fell “to historically low levels around the world,” 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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