Mosaic to Decrease Phosphate Supplies
By Sonja Begemann, AgWeb.com
This week, Mosaic announced it will decrease production in its Louisiana operations facility by about 500,000 tons in 2019. Effective Oct. 1, the company is doing this in response to greater imports pushing down the fertilizer’s prices. In addition to idling the Louisiana plant, the company is initiating $250 million in stock repurchases. Rourke says this is the best use of company capital in today’s environment.