USA: Giant Mosaic to Cut Phosphate Production

The Minnesota-based Mosaic, the world’s largest phosphate fertilizer producer, announced in December it was cutting phosphate production by 250,000 tons through March due to cautious demand and declining prices. Mosaic officials believe that the phosphate industry will be able to absorb additional capacity coming online, including an estimated 2 million tonnes in 2012 from a Saudi Arabian mine project, and observed that the crop prices are staying relatively high. Phosphate shipments in the current year should hit a record 62 million to 64 million tonnes, up from 60 million in 2011 and 51 million in 2007.

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