Agrium cautions on price surge in commodities

02 April 2008 17:04  [Source: ICIS news]

TORONTO (ICIS news)--Fertilizer producers may be better off if agricultural commodity prices do not rise much further or risk government intervention, Mike Wilson, CEO of Canada's Agrium, said on Wednesday.


“I wouldn’t want to see commodity prices to go up a lot more,” Wilson told an investor conference in Toronto.


“If grain prices spiked, I don’t think that is good for us … I like where they [prices] are,” he said.


The industry was already starting to see a lot of government inference, in the form of export duties and other measures, he added.


Regarding Agrium’s planned $2.65bn acquisition of US agricultural retailer United Agri Products (UAP), Wilson said US regulators were concerned with seven of the 370 retail sites Agrium would acquire.


Agrium was willing to sell the seven sites in order to close the deal by June, he said.

By: Stefan Baumgarten
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