Low prices cut fertilizer makers’ profit

Second quarter net earnings for PotashCorp fell 71 percent, while Mosaic Co. reported a loss of $10 million

North America’s biggest fertilizer companies reported large drops in quarterly profits last week. Two companies, Agrium Inc. and CF Industries Holdings, warned of tough times ahead as abundant supplies weighed on prices. However, Mosaic and PotashCorp indicated the worst might be over, at least in the potash sector. “We believe the uncertainty that weighed on […] Read more

Falling oil prices hurt FCL

Federated Co-operatives Ltd. did not go unscathed during a year that saw changing market conditions and volatile commodity prices in Canada. The main problem was seen at the Co-op Refinery Complex, where total energy earnings dropped 24.7 percent, or $1.95 billion, from the previous year. The decline was blamed on falling crude oil prices, reduced […] Read more

Pulse processors post profit

Two major pulse processors are running out of crop and eagerly awaiting new supplies from this year’s harvest to fill what is expected to be a strong upcoming export program. “I have to tell you, carry-out stocks this year are negligible,” Murad Al-Katib, president of AGT Food and Ingredients, said in a transcript of a […] Read more