Aug 7 (Reuters) - Fertilizer maker Mosaic

expects global phosphate and potash demand to rebound in the

second half of 2024, driven by regions such as Asia and Brazil.

The annual global phosphate sales are projected to be

between 73 million to 76 million tons, while potash sales are

expected to range from 70 million to 73 million tons, the

company said.

For much of 2023 and this year, fertilizer prices have

remained subdued due to an increase in supplies as well as

elevated inventory levels.

The long-term outlook for phosphate - with an increasing

demand for food, fiber, fuel and industrial use - is compelling,

the company added.

Meanwhile, potash contract settlements in China and India

established a price floor, stimulating buying activity across

Asia, according to Mosaic.

"We anticipate limited exports of phosphate out of China,

which bodes well for global phosphate prices... export

restrictions will likely remain or potentially even be tightened

to limit further domestic price escalation," CEO Bruce Bodine

said to analysts.

He added the in-season fertilizer demand in Brazil, which

imports about 85% of its fertilizer, remains strong.