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The Mosaic Company announces reduction in its phosphate production
Mar. 11, 2019
The Mosaic Company
United StatesFollow
United StatesThe Mosaic Company announced that it will reduce its phosphate production plans by 300,000 tons for the spring season. Mosaic has been monitoring U.S. markets and NOLA DAP prices, and has decided to reduce production due to continued weather concerns across key U.S. growing regions, along with higher than normal carryover inventory levels from the fall.
Mosaic believes the current margin structure does not reflect today's balanced market conditions. Protecting margins at this seasonably slow time of the year is important for the Company and its customers.
The reduction will impact Mosaic's U.S. phosphate facilities in Florida and Louisiana and will be accomplished through changes in maintenance schedules and operational production plans.
Source: Mosaic news release
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