Mosaic cuts phosphate production

james

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Fertilizer producer Mosaic Co. said Dec. 28 it will cut production of phosphate, a key nutrient used for crop production, because prices have fallen to unsustainable levels. The Minnesota-based company said it would cut its planned production...

Fertilizer producer Mosaic Co. said Dec. 28 it will cut production of phosphate, a key nutrient used for crop production, because prices have fallen to unsustainable levels.

The Minnesota-based company said it would cut its planned production of phosphate by 250,000 tonnes over the next three months, blaming economic uncertainty for a drop in prices. It said it still expected record global demand for fertilizer in 2012.

"The current spot prices in this market do not reflect our outlook for the business, nor do we think they are sustainable," said Jim Prokopanko, Mosaic?s president and CE

Read more at http://agcanada.com/daily/mosaic-cuts-phosphate-production/
 
 
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