Mosaic Co., the largest U.S. producer of potash and phosphate fertilizer, expects global demand for crop nutrients to rise late next year, buoyed by purchases in China and India.
“We believe we will see by the last half of 2014 this demand start to come back, maybe sooner,” Mosaic Chief Executive Officer Jim Prokopanko said today in a telephone interview. “Potash and phosphate demand in two specific geographies, China and India for potash, and phosphate into India, will be back to traditional levels.”
Fertilizer prices will “remain challenging” into 2014 after a later-than-normal North American application season and caution among dealers, Prokopanko said today in a statement.
Mosaic, based in Plymouth, Minnesota, fell 1.5 percent to $46.05 at the close in New York. The shares have fallen 19 percent this year.