Mosaic Falls 13% as Fertilizer Imports Drop on US Tariffs
A Mosaic Co. dragline carves out phosphate matrix in Tampa, Florida.
Photographer: Jim Stem/Bloomberg
Mosaic Co., the world’s leading producer of two key crop fertilizers, dropped by the most since May 2022 as US tariffs led to fewer and costlier second-quarter phosphate sales.
US imports of phosphate and potash are down about 20% year-to-date, a pattern that looks to continue, according to Jenny Wang, the company’s executive vice president of commercial. Meanwhile, farmers have less to spend on nutrients as corn and soybean prices fall on “global trade uncertainty” and the anticipation of large harvests, according to the company’s earnings release. Shares fell as much as 13% Wednesday to the lowest price in three months.