Potash Corp. Boosts Outlook as Profit Tops Expectations July 24, 2014 (Source: Reuters) – Potash Corp of Saskatchewan raised its full-year earnings outlook on Thursday after second-quarter profit fell less than expected due to improving global fertilizer demand... “The key question is, ‘Is this just pent-up (potash) demand finally being satisfied, or is it going to continue into 2015,’” said Peter Prattas, analyst at Cantor Fitzgerald. “Our view is that demand has room to increase slightly in 2015, but we’re not going to continue with the momentum we’ve had to start the year.” The company said it has a strong potash order book from U.S. buyers for the second half, and Canpotex Ltd – its offshore trading partnership with Mosaic Co and Agrium Inc – is fully committed through the third quarter. China is driving some of the renewed potash demand. Potash Corp said it expected Canpotex to ship 1.2 million tonnes for the year factoring in optional tonnage arrangements in its contract with Sinofert Holdings Ltd. Potash shipments to India also look to exceed last year’s level despite weaker monsoon rains that have limited Indian crop potential... http://investorintel.com/potash-phosphate-press/...tops-expectations/
|