April 25 (Reuters) - Mosaic Co said it now expects fertilizer sales to be at the top end of a previously announced forecast, news that sent the company’s stock jumping in premarket trading.
In the past month demand for fertilizer has “increased sharply,” the company said in a statement on Wednesday, driven by a strong early North American spring season and rising shipments to South America.
The company had previously forecast fiscal fourth quarter potash sales of 1.7 million to 2.2 million tonnes, and phosphate sales of 2.3 million to 2.7 million tonnes.
The company’s fiscal year ends June 30.
Given the strong demand, Mosaic said sales will now be at “the upper end of the guidance ranges.”
Shares of the Minnesota-based company rose 4.7 percent to $52.85 in premarket trading after the announcement. (Reporting By Ernest Scheyder; Editing by Gerald E. McCormick)