Nov 1 (Reuters) - Mosaic Co, the world’s largest producer of finished phosphate products, reported a 75.5 percent fall in quarterly profit on Tuesday, due to lower fertilizer prices.
The company’s net earnings fell to $39.2 million, or 11 cents per share, in the third quarter ended Sept. 30 from $160 million, or 45 cents per share, a year earlier.
The U.S. fertilizer company said net sales fell 7.3 percent to $1.95 billion.
Larger rival Potash Corp of Saskatchewan last week reduced its profit guidance for the year, saying that a recovery of the potash market would take more time, and recorded larger-than-expected quarterly earnings. (Reporting by Ismail Shakil in Bengaluru and Rod Nickel in Winnipeg, Manitoba; Editing by Sriraj Kalluvila)