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Chemical Week Magazine :: Business & Finance :: United States/Americas
Fertilizer earnings plummet on collapsing potash prices
8:18 AM MST | February 21, 2014 | CW Staff
Fertilizer producers posted all-around weaker results this quarter mainly because of plummeting potash prices after the breakup of major potash exporter Belarusian Potash Corp. (BPC) last July. Normally a weak seasonal quarter, producers were also hurt by price decreases in phosphates, nitrogen, and urea. However, many companies report volume growth—indicating possible sales improvement for the rest of the year. Mosaic net earnings of $129 million dropped 80% year-on-year (YOY). Sales fell 8%, to $2.2 billion. However, Jim Prokopanko, president and CEO of...
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