February 10, 2010 / 12:21 PM / in 8 years

UPDATE 1-Mosaic sees sequentially higher potash volumes in Q3

* Sees Q3 potash sales volumes of 1.7-2 mln metric tonnes

* Sees prices between $340 to $360 per tonne

* Backs Q3 phosphate sales volumes, 2010 capex view

Feb 10 (Reuters) - Fertilizer producer Mosaic Co MOS.N forecast sequentially higher potash volumes in the third quarter, and expects to be at the high end of its outlook range for phosphate sales volumes.

“Signs suggest a recovery in demand for nutrients is underway. We expect shipments and applications to return to more normalized levels in calendar 2010,” the company said in a regulatory filing.

Analysts expect demand for Potash to bounce back this year as farmers scramble to replenish soil nutrient levels.

This, after prices retreated to about $350 to $400 a tonne from above $1000, as farmers, hit by the credit crisis and falling grain prices, reined in their use of the nutrient.

Mosaic expects third-quarter potash sales volumes of 1.7 to 2 million metric tonnes, at a selling price of $340 to $360 per tonne. Second-quarter potash sales volume came in at 1 million tonnes.

The company said it expects to be at the high end of its outlook range for phosphate sales volume of 2.2 to 2.6 million tonnes for the third quarter.

It still sees spending between $1 billion and $1.2 billion in 2010.

Shares of the company closed at $56.91 on the New York Stock Exchange. (Reporting by Adveith Nair in Bangalore; Editing by Aradhana Aravindan)

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