Potash Corporation of Saskatchewan Inc. (PotashCorp), the world’s leading fertiliser producer, increased its net earnings by 75% for Q2 2011 thanks to a growing demand for fertiliser minerals and concerns about future supply, the company said.
Second-quarter earnings were at $840m., a 75% increase from $480m. compare to last year.
“The continuation of strong fertiliser demand combined with the limitations of global production, especially in potash, resulted in tight fertiliser markets and rising prices for our products,” PotashCorp’s president and CEO Bill Doyle declared.
Second-quarter gross margin doubled to $1.2 bn from $0.6bn in Q1 2010, thanks to higher prices for all three nutrients – potash, phosphate and nitrogen – and continuing strong demand, especially for potash and phosphate.
“With farmers committed to increasing yields and capitalising on the unprecedented economic opportunity, we worked to keep pace with...