- Write by:
-
Wednesday, November 3, 2021 - 13:12:06
-
465 Visit
-
Print
Mining News Pro - Mosaic, the world’s largest phosphate producer, expects the fertiliser price surge will continue.
The company “expects upward pricing momentum to continue” as 90% of fourth quarter sales are committed and priced, with some customers requesting commitments as far forward as second quarter of 2022, the company said Monday in a statement.
Mosaic reported third quarter adjusted earnings that missed the average analyst estimates, with lower potash and phosphate sales volumes, pushing shares lower in afermarket trading.
Fertilizer prices have skyrocketed as soaring natural gas costs have forced some European production plants to halt or curtail production. US spot prices for potash and urea, a form of nitrogen fertilizer, have more than doubled this year, according to Green Markets, a company owned by Bloomberg.
The price surge is stoking fears farmers may pull back on purchases or shift more acres into crops that require less nutrients. A drop in yields could drive crop prices higher, worsening food inflation.
Green Market’s North American fertiliser price index rose 0.4% Friday to $1 017.87 per short ton, just off a record reached earlier this month.
Short Link:
https://www.miningnews.ir/En/News/616980
Mining News Pro - Speculation about Anglo American (LON: AAL) becoming the target of a takeover by a rival or a private ...
Mining News Pro - BHP Group Ltd. (ASX: BHP) CEO Mike Henry is talking down the chances of acquiring Canadian fertilizer ...
Mining News Pro - Fertilizer makers jumped after Hamas’ surprise attack on Israel raised concerns over how the conflict ...
Mining News Pro - Canada’s Brazil Potash has scored a key win in its battle to build its $2.5bn Autazes project in the ...
Mining News Pro - Sulphate of potash miner Kalium Lakes has entered into administration, appointing Rob Brauer, Jason ...
Mining News Pro - Nutrien Ltd. is curtailing production at a Saskatchewan potash mine because of a dockworkers’ strike ...
Mining News Pro - Canadian Labor Minister Seamus O’Regan said negotiators have made progress toward a deal to end a ...
Mining News Pro - Canadian Labor Minister Seamus O’Regan said negotiators have made progress toward a deal to end a ...
Mining News Pro - Nutrien Ltd. is curtailing production at a Saskatchewan potash mine because of a dockworkers’ strike ...
No comments have been posted yet ...