US-based fertiliser manufacturer The Mosaic Co. reported Q4 2012 net earnings of $507m, 21.8% down year on year, as a result of lower phosphate pricing, which counterbalanced growth in realised potash prices.
The Q4 results ending 31 May show improvement compared with the Q3 results published in March. Mosaic had then reported a 50% fall in net earnings year-on-year on the back of lower potash volumes and increased phosphate raw material costs.
Jim Prokopanko, Mosaic’s president and CEO, said that, “despite challenging market conditions [the company] made great progress” and “completed a fiscal year of significant accomplishments with a strong fourth quarter”.
“The extended spring season in North America, along with continuing strong demand for our products in Central and South America, led to solid financial results for the quarter,” Prokopanko added.
For the fiscal year ending 31 May 2012, full-year...