US Mosaic looks to ship more potash in the second quarter

29 March 2012 18:15  [Source: ICIS news]

HOUSTON (ICIS)--US fertilizer major Mosaic expects to increase potash shipments in the second quarter as a result of higher demand, the company's top officer said on Thursday.

"Mosaic expects to ship 1.7m-2.2m tonnes of potash in the second quarter, compared with 1.8m tonnes shipped in the first quarter," said Mosaic chief executive Jim Prokopanko during a conference call with investors.

Farm economics remain compelling for fertilizer sales, with futures prices for December corn hovering near $5.40/bushel, which is higher than three of the past four years, Prokopanko said.

Nutrients are very affordable and potash demand is expected to increase soon, Prokopanko said, adding that an early US spring has accelerated the pace of fertilizer application ahead of planting.

Mosaic said the company expects to see Chinese phosphate exports decline to 5.6m tonnes in 2012, down from 6.6m tonnes exported last year.

By: Frank Zaworski
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