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Mosaic reports lower phosphate and potash sales in early Q4
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Mosaic reports lower phosphate and potash sales in early Q4
Dec 23, 2024 3:24 PM

Dec 23 (Reuters) - Fertilizer producer Mosaic

said on Monday its phosphate and potash sales volume fell for

the first two months of the fourth quarter compared with the

previous year.

Phosphate sales volumes for October and November fell 7.2%

to 946,000 tonnes, due to production and shipment issues related

to Hurricanes Helene and Milton, the company said in a

statement.

Mosaic, which mines phosphate rock in Florida and produces

about three-quarters of North America's phosphate fertilizers,

had idled its state's operations in October in preparation for

Hurricane Milton.

This was the second major storm to hit Florida in two weeks

after Hurricane Helene, which carved a path of destruction

across agricultural areas of the Southeast U.S.

Meanwhile, potash sales volumes for the period fell 25% and

revenue declined nearly 41% to $299 million due to shipment

delays from their Canadian supplier, Canpotex, caused by rail

and port strikes in Canada.

Fertilizers account for the third-highest volume among

commodities shipped by Canadian railways, with 75% of all

fertilizer produced and used in the country being moved by rail.

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