Mosaic cuts production forecast, cites uncertain China contract

Tue Nov 13, 2012 4:30pm EST
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Nov 13 (Reuters) - Fertilizer producer Mosaic Co cut its forecast for phosphate and potash sales on Tuesday, citing uncertain supply contracts with China and India.

The company now expects to sell 1.3 million to 1.4 million tonnes of potash in its fiscal second quarter, down from a previous forecast of 1.6 million to 1.9 million tonnes.

Mosaic also now expects to sell 2.9 million to 3.1 million tonnes of phosphate, down from a previous forecast of 3 million to 3.4 million tonnes.

Phosphate is the second-most important fertilizer for farmers to apply, after nitrogen. Potash is the third.