07 October 2013 23:47 [Source: ICIS news]
HOUSTON (ICIS)--Fertilizer producer Mosaic announced it has lowered its forecast for total 2013 global potash shipments from 55m-57m tonnes to 54m-55m tonnes.
Speaking to investors on Monday, Mosaic officials said weaker demand coming from India and a delay between trading venture Canpotex and Chinese customers in finalizing the second-half potash contract have caused the company to trim back its initial projections.
Although the market has been turbulent since late summer, Mosaic CFO Larry Stranghoener predicts the global trend will see an uptick in demand. He projects volumes to rebound to approximately 57m-59m tonnes by 2014.
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