May 6 (Reuters) - Fertilizer producer Mosaic

beat Wall Street expectations for first-quarter profit on

Tuesday, driven by strength in its South America business.

Shares of the company rose more than 2% after the bell.

The results come as the agrichemical industry braces for the

potential fallout from U.S. President Donald Trump's sweeping

tariffs on most imports.

However, Mosaic expects agriculture and fertilizer markets

to remain robust despite global trade uncertainties.

The company raised its potash production forecast for the

current year, as it expects that improved demand will push

prices higher.

It now forecasts potash production to range between 9

million tonnes and 9.4 million tonnes in 2025, compared to its

previous projection of 8.7 million tonnes to 9.1 million tonnes.

The company is also banking on rising demand in Brazil,

where crop prices are experiencing a surge due to strong demand

for domestic consumption and exports.

In 2024, Brazil represented almost 40% of Mosaic's total

revenue, according to data compiled by LSEG.

Production cost improvements helped boost adjusted core

profit at Mosaic's South America fertilizer segment to $122

million in the first quarter, up from $83 million a year

earlier.

The segment also benefited from a modest increase in sales

volumes, reporting net sales of $934 million in the quarter,

compared to $886 million the previous year.

First-quarter results were, however, partially offset by

weakness in potash and phosphate segments, where lower selling

prices and turnaround activities at some facilities resulted in

decreased sales.

The Tampa, Florida-based company reported adjusted

earnings of 49 cents per share for the quarter ended March 31,

compared with analysts' average estimate of 45 cents per share.