Mosaic’s Phosphate Volumes Slump

Mosaic says that phosphate sales volumes for its fiscal second quarter ended November 30 were 1.3 million m.t., about 38% below first-quarter levels. The average selling price for diammonium phosphate was within the company’s guidance range, but second-quarter phosphate gross margins are expected to be hurt by raw material costs. “Lower grain and oilseed prices, a late North American harvest, congested distribution supply chains, and the unprecedented global economic and credit downturn [have caused] business to moderate in nearly all sectors,”...

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