Mosaic Fertilizer said that its sales of phosphates and potash fell in the first two quarters of the fourth year compared to the previous one.

The company reported that the phosphate sales volume for October and November fell 7.2%, to 946 000 tonnes, because of production and shipping issues related to hurricanes Helene, and Milton.

In October, Mosaic, a company that mines phosphate rocks in Florida and makes about three quarters of the phosphate fertilisers produced in North America, had shut down its Florida operations to prepare for Hurricane Milton.

It was the second major hurricane to hit Florida within two weeks, following Hurricane Helene which caused widespread destruction in the agricultural areas of the Southeast U.S.

During the same period, potash sales volume for the period decreased by 25%, and revenues fell by nearly 41%, to $299 millions, due to delays in shipments from their Canadian supplier Canpotex caused rail and port strikes.

The Canadian Railways ship 75% of the fertilizer used and produced in Canada by rail. (Reporting by Arunima Kumar in Bengaluru; Editing by Vijay Kishore)

(source: Reuters)