Phosphates

The idling of Itafos' Brazil-based phosphate fertilizer business is in response to the continued downward pressure on global fertilizer prices.

The trials were conducted on various vegetable crops in the Bình Chánh and Cu Chi rural districts of southern Vietnam, where the country’s agricultural production is focused.

The event was due to be held in Paris, France, from 8 - 10 March.

The Mosaic Company is to combine its potash and phosphates operations under one management team, effective 1 April 2020.

The company's Board has appointed Mark Summers, currently the company’s Chief Financial Officer, as its interim CEO.

Itafos's Board of Directors has appointed Anthony Cina as Chairman of the company’s Board of Directors.

The company's revenue in 4Q19 decreased by 10.8% y/y to RUB 53.1 billion (US$0.8 billion).

For 4Q19, Mosaic reported a net loss of US$921 million, and adjusted EBITDA of US$202 million.

Nutrien recorded a net loss from continuing operations of US$48 million in 4Q19.

Potash sales, which accounted for 24% of the group total, declined to US$302 million in the quarter from US$515 million a year earlier.

Yara's 4Q19 net income after non-controlling interests was US$199 million, compared with US$157 million a year earlier.

The company recorded annual sales of US$6.2 billion for 2019, 11% higher than a year ago, as a result of a 7% increase in sales volumes and a more favourable price environment in the first six months.

Most notably, sales of PhosAgro products to farmers increased by 10.5% y/y to 2.69 million t.

The company has terminated the engineering, procurement and construction management agreement with Lycopodium Minerals Canada relating to services for the development of the Itafos Farim phosphate mine.

Itafos's Board of Directors has appointed Dr. Mhamed Ibnabdeljalil as CEO, effective immediately.