March 6 (Reuters) - Fertilizer producer Intrepid Potash ( IPI )

reported a fourth-quarter loss on Wednesday, hurt by

impairment charges and a decline in product prices.

Fertilizer companies have grappled with slow demand as

farmers held back on purchases after prices rallied in 2022 when

sanctions on top exporters, Russia and Belarus, led to tight

supplies.

Intrepid Potash ( IPI ) said it took a $42.8 million impairment

charge in the fourth quarter, primarily related to its East and

West mines in New Mexico.

Sales at the company's potash segment fell nearly 35%, with

prices declining about 38%, compared with the year-ago quarter.

The company reported a net loss of $37.3 million, or $2.91

per share, for the quarter ended Dec. 31, compared with a profit

of $4 million, or 30 cents per share, a year earlier.

The Denver, Colorado-based company expects its 2024 capital

expenditure to be in the range of $40 million to $50 million.

Its capex for 2023 was $65.1 million.