Chempricehub June 1st News
Recently, global fertilizer giant Mosaic Company reported a net loss of $258 million in the first quarter, compared to a net profit of $238 million in the same period last year. The sharp rise in ammonia and sulfur prices eroded phosphate fertilizer margins, coupled with asset impairments from idle phosphate mines in Brazil, were the main causes of the loss. Facing sustained cost pressures, Mosaic has announced production cuts and reduced capital expenditures.