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Chemical Week Magazine :: Business & Finance :: United States/Americas
Fertilizer earnings down on weak potash market
7:12 AM MST | November 8, 2013 | —Lindsay Frost
Uncertainty in the potash market, partially caused by the breakup of export cartel Belaruski Potash Corp. (Minsk) in July, led to weaker third-quarter earnings for most fertilizer companies. Phosphates did not perform up to par either since global markets were subdued partially because of the loss in production from India. Mosaic reports net income plunged 70% year-on-year (YOY), to $124 million. Sales, hurt by lower prices and lower North American sales volumes, were down 26%, to $1.9 billion. PotashCorp’s third-quarter earnings took a dive as well, the...
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