UPDATE 3-Potash Corp hurt by fall in income from overseas investments

Thu Oct 23, 2014 2:52pm EDT
 
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* Cuts top end of 2014 profit forecast range

* Third-quarter profit $0.38/share vs est. $0.42

* Revenue up 8 pct at $1.64 bln

* Raises estimate for 2014 global potash shipments (Updates with CEO comment on 2015, analyst comment)

By Swetha Gopinath and Rod Nickel

Oct 23 (Reuters) - Potash Corp of Saskatchewan narrowed its full-year earnings forecast range and the company reported a lower-than-expected quarterly profit as income fell from its overseas investments.

The price of the crop nutrient potash has plunged year over year, triggered by the breakup last year of trading partnership Belarusian Potash Co that created more competition among producers.

Potash Corp, the world's biggest fertilizer company by market value, said the average realized price for potash fell 8.5 percent to $281 per tonne in the third quarter from a year earlier.

Potash prices rose 7 percent from the second quarter, however, and sales volume jumped 29 percent from a year earlier.   Continued...