Potash Shake-Up Takes Toll as Agrium Sees Drop in Sales
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Agrium Inc. is the latest North American potash producer to cut its sales forecast as the breakup of the world’s largest marketing bloc for the crop nutrient begins to take its toll.
Agrium, the third-largest North American producer, expects to sell 30 percent less potash in the third quarter and forecast a 64 percent drop in profit from its wholesale fertilizer division, the Calgary-based company said yesterday. U.S.-based Mosaic Co., the second-biggest producer, cut its sales forecast by about 20 percent on Sept. 16.