30 November 2011 16:25 [Source: ICIS news]
"Global shipments of phosphates in 2012 will increase about 3% from 2011 to 62m-64m tonnes because of increasing demand in North America, South America and Asia," said Mosaic Chief Financial Officer Larry Stranghoener at the Citi Basic Materials Conference.
Mosaic expects global potash shipments to increase from 56m tonnes in 2011 to 58m-60m tonnes in 2012 with particularly robust demand coming from Asia and Brazil, Stranghoener said.
The global market demand for both phosphates and potash are forecast to grow steadily by about 3%/year over the next 10 years, said Stranghoener.
Currently, Mosaic believes phosphate and potash inventories held by distributors in North American and South America are very low following strong application seasons.
Because of continuing strong demand, Mosaic forecast that fertilizer shipments would be above average in both the northern and southern hemispheres through the December 2011-April 2012 period.
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