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Balanced Reporting. Trusted Insights.
Tuesday, January 26, 2021
Farmers are paying more for the phosphate fertilizer they need as foreign and domestic producers fight for public opinion on whether the U.S. government should punish imports of the valuable crop production input with duties.
Nutrien reported a third-quarter loss of $1.03 per share primarily related to an $823 million writedown of its phosphate assets, compared to earnings of $141 million for the same quarter a year ago, but otherwise had a good quarter, the company said.
In this opinion piece, Bob Young discusses the actions taken by The Mosaic Company in asking the Department of Commerce and the International Trade Commission to investigate imports of phosphate from Morocco and Russia and how corporate interests could have a negative impact on farmers.