Phosphate demand will continue to grow - Mosaic

29 July 2008 21:59  [Source: ICIS news]

HOUSTON (ICIS news)--Global demand for phosphate fertilizers will continue to increase despite prices doubling from last year’s levels, fertilizer producer Mosaic said on Tuesday.

CEO Jim Prokopanko, speaking a day after the company unveiled record earnings, said high prices were not leading to demand destruction for phosphate.

“We’re selling it as fast as we can produce it, and where prices go from here - with a strong market, you can draw your own conclusions,” Prokopanko said during an earnings conference call.

Diammonium phosphate was trading at $1,190.49/tonne (€750.00) FOB (free on board) NOLA (New Orleans), up from $443.13/tonne at this time last year, according to global chemical market intelligence service ICIS pricing.

While fertilizer demand remains firm, Prokopanko said the recent increases in sulphur prices were “a temporary phenomenon”.

Sulphur prices have recently skyrocketed, and now trade at $350-$670/tonne FOB in Vancouver, up from $55-$135/tonne at this time last year.

“We’re confident we’re going to see much lower sulphur prices in the next couple quarters,” Prokopanko said.

($1 = €0.63)

To discuss issues facing the chemical industry go to ICIS connect


By: David Rosen
713-525-2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly