.jpg)
16 hours ago
1
Article content
(Bloomberg) — Mosaic Co., the world’s leading producer of two key crop fertilizers, said US tariffs are weighing on shipments.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Phosphate deliveries to the US are “tracking well below last year” with levies applicable to most sources of the fertilizer, the company said in its earnings release. Meanwhile, farmers have less to spend on nutrients as corn and soybean prices fall on “global trade uncertainty” and the anticipation of large harvests.
Article content
Article content
Demand elsewhere in the world is absorbing some of the volumes no longer bound for the US, Mosaic said. The company posted an $8 million loss in its phosphate earnings in the second quarter. China is the world’s biggest producer of the crop input.
Article content
Article content
Mosaic said rising prices for phosphate and potash, another key fertilizer, boosted second-quarter net potash sales up from the prior year, while offsetting lower phosphate volumes to keep sales flat. Potash, largely produced in Canada, is among the goods exempt from US tariffs under a North American trade agreement.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The Tampa-based company reported second-quarter sales volumes for phosphate and potash that trailed analyst estimates. Earnings per share missed even the lowest of analyst estimates compiled by Bloomberg, reflecting extensive maintenance.
Article content
Still, the company said it remains optimistic as “any demand deferral or reduction exiting 2025 sets the stage for strong demand in 2026, as nutrients removed from this year’s crops need to be replenished.”
Article content
Shares slumped more than 6% after regular-trading hours in New York.
Article content
—With assistance from Gerson Freitas Jr..
Article content
English (US)