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PotashCorp, the world's largest potash fertilizer company, saw its net profit fall by 33% year-on-year in the first quarter as potassium carbonate buyers continued to wait and see delays in purchases. In addition, the increase in costs also leads to a drop in profits. However, the company said that the decline in inventories in the second half of the year and the strengthening of agricultural fundamentals will stimulate demand growth.

According to the quarterly report of Potash Corp., as of March 31, 2012, the company achieved a profit of 491 million U.S. dollars in the first quarter, compared with 732 million U.S. dollars in the same period of last year; the earnings per share of 56 cents did not reach 63 U.S. dollars as forecasted by analysts. Target; sales revenue dropped by 26% year-on-year to US$1.7 billion.

The company’s president Billy Dole said: “At the beginning of this year, fertilizer buyers continued to maintain a cautious attitude, especially the purchase of potash, which has affected our performance in the first quarter. We expect that potash demand will start at the end of the quarter. Enhanced, which will support the company's sales for the rest of the year.” The company has reduced its 2012 performance to 3.20-3.60 US dollars per share, the previous forecast is 3.40-4.00 US dollars.

North America’s second-largest fertilizer company, Mosaic, expects the company’s sales to increase in the fourth quarter of the fiscal year ending May 31, as demand for nitrogen fertilizers for crops increases in the US domestic and international markets. Previously, the company set the fourth quarter's potash sales volume to be between 1.7 million and 2.2 million tons, and the phosphate fertilizer sales volume was between 2.3 million and 2.7 million tons. From the current situation, it is expected that the sales volume of potash fertilizer and phosphate fertilizer will reach the upper limit of the range. Jim Prokopenko, President of Magnus said: “The global demand for nitrogen fertilizers for crops has begun to increase rapidly, mainly due to the early spring season in North America and the strong demand, as well as the enhanced export market in South America.”

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