Reuters — Plunging crop and fertilizer prices may not have hit rock bottom yet, and the market’s weakness makes it the right time to merge leading farm input suppliers, the CEO of Agrium said on Tuesday, making his pitch to skeptical investors for a US$26 billion union with PotashCorp. “Are we at the bottom yet? […] Read more
Tough farm conditions right time for merger, Agrium CEO says
Sinkhole at Mosaic fertilizer site leaks radioactive water
Reuters — A sinkhole spanning 45 feet in diameter opened at a Mosaic Co. phosphate fertilizer facility in Florida, leaking 215 million gallons of “slightly radioactive water,” a company spokesman said Friday. Mosaic said the monitoring system at its New Wales facility at Mulberry, Florida, showed a decline in water levels on Aug. 27 from […] Read more
Fertilizer merger faces easier approval at home than in U.S.
Toronto/Washington | Reuters — Canada’s PotashCorp and Agrium are more likely to win approval for a potential merger in Canada than in the U.S., but U.S. rejection of the deal would scuttle it globally, competition lawyers said. Saskatoon-based PotashCorp and Calgary’s Agrium confirmed Tuesday they were in preliminary merger talks, toward a deal that would […] Read more
Agrium, PotashCorp in merger talks
Canadian fertilizer giants Agrium and PotashCorp confirmed Tuesday they’re in “preliminary discussions” toward a possible merger-of-equals. Calgary-based Agrium and Saskatoon-based PotashCorp emphasized in separate statements Tuesday that no decision has yet been made on whether to go ahead with such a merger and no agreement has yet been reached. “There can be no assurance that […] Read more
Mosaic CEO sees opportunities to buy miners’ fertilizer assets
Reuters — Miners that produce a diverse commodity mix may be willing to part with fertilizer assets, creating buying opportunities for producers of potash and phosphate, Mosaic Co. CEO Joc O’Rourke said Tuesday. Profits of fertilizer producers have tumbled because of falling prices, weak currencies in importing countries such as Brazil and excessive supplies. Mosaic, […] Read more
Mosaic idles Saskatchewan potash mine
Reuters — Fertilizer producer Mosaic Co. has idled production at its Colonsay, Sask. potash mine for the rest of 2016, and temporarily laid off 330 workers, the company said in a statement Wednesday. Potash prices are hovering around the lowest levels seen in a decade, amid excessive output capacity and delays in setting annual supply […] Read more
Canpotex shelves plans for Prince Rupert terminal
Reuters — Canpotex, the potash export sales arm for PotashCorp, Mosaic Co. and Agrium, said Friday it would not build a planned shipping terminal at Prince Rupert in British Columbia. Canpotex said the decision was based on economic and commercial considerations and that its export capacity in Vancouver, Saint John and Portland were sufficient. PotashCorp […] Read more
India backstops first phase of Sask. potash mine
Winnipeg | Reuters — India’s Gujarat State Fertilizers and Chemicals has agreed to guarantee payments on US$700 million in debt to finance the first phase of Karnalyte Resources’ Saskatchewan potash mine project, Karnalyte said Monday, adding supply even as other miners cut production. Under the deal, a subsidiary of State Bank of India and other […] Read more
Mosaic looks for bargain buys as fertilizer sector slumps
Reuters — U.S. fertilizer company Mosaic Co., grappling with falling prices and profits, is looking for acquisitions that could be bargain-priced in a weak commodity sector. The world’s largest producer of finished phosphate products on Thursday forecast lower selling prices for potash and phosphate in the current quarter. The Plymouth, Minn.-based company also reported fourth-quarter […] Read more
Mosaic cuts phosphate production
Reuters –– U.S.-based fertilizer producer Mosaic Co. said Wednesday it would cut output of phosphates by up to 400,000 tonnes with rotating plant shutdowns in the first quarter, due to weak demand. Fertilizer producers have seen profits hit by falling prices, triggered in part by weak currencies in importing countries such as Brazil. “The long-term […] Read more
Cyber-Savvy Farmer
