03 June 2010 15:36 [Source: ICIS news]
HOUSTON (ICIS news)--Good weather this spring that allowed US farmers to plant corn at a record early pace should translate to strong sales of ammonia and other fertilizers for fall application, fertilizer retailer Agrium said on Thursday.
“An 88m- to 90m-acre corn crop that was planted early in the spring means the crop will mature earlier in the fall, and farmers ought to have plenty of time to apply fertilizers this fall,” said Agrium vice president of retail distribution Tom Warner at the Goldman Sachs Basic Materials Conference.
Canada-based Agrium is North America’s largest fertilizer retailer with 15% of the total retail nutrient market.
Long a major fertilizer producer and retailer in the US, Agrium recently acquired a string of retail outlets across western Canada and has expanded operations in Argentina, Chile and Uruguay.
Warner said Agrium would sell 16m-17m tonnes of fertilizer around the world in 2010.
“The drop-off in nutrient demand we saw in 2009 as ammonia hit $1,000/tonne [€820/tonne] in 2008 is gone, and farmers are returning to normal nutrient application levels,” Warner said.
($1 = €0.82)
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