The Mosaic Co., Tampa, said March 23 that it will collaborate with AgBiome, Research Triangle Park, N.C., with the aim of launching novel biological approaches to enhancing soil fertility. The collaboration will leverage AgBiome’s proprietary Genesis™ platform that comprises microbes coupled with product discovery technology. Mosaic will lend expertise in soil health and product development, as well as its global distribution and sales network.
All posts by Steve Seay
Construction on New Canadian SOP Plant Expected in 2021
Saskatchewan Mining and Minerals
Inc. (SMMI), Chaplin, Sask., said March 23 that construction of a new $220
million sulfate of potash (SOP) fertilizer production upgrade at its SMMI
sodium sulfate plant is scheduled to begin by late 2021. The upgraded facility
is expected to be complete by the end of 2023 and produce 150,000 mt/y.
One Dead after Explosion at Fertilizer Plant
One person was killed and four others were injured in a boiler explosion at IFFCO’s Phulpur nitrogen plant March 23, according to the Press Trust of India.
Offers in RCF Urea Tender Top 1.9 Million mt
The technical offers in the March 22 RCF urea tender were opened March 22, showing 13 companies offering 1.926 million mt for shipment by April 28. Only 90,000 mt was offered on an FOB basis, the rest were almost evenly divided between East Coast (947,500 mt) and West Coast (889,500 mt) deliveries. Offered prices will most likely not be released until later this week.
India’s RCF Calls Urea Tender
Rashtriya Chemicals called a urea tender March 13 to close Monday, March 22 with a shipment deadline of April 28. If the current Chinese urea price of $335-$340/mt FOB holds, offers could be $355-$360/mt CFR for the East Coast, which would set a new high price paid. Going into the tender, traders were predicting prices around $365/mt CFR.
OCP Determined to Serve American Farmers in Future
Morocco’s OCP SA responded to today’s U.S. International Trade Commission decision that will result in a 19.97 percent countervailing duty on phosphate fertilizer imports from Morocco, by saying that despite the decision, it recognizes the supply challenges that American farmers face and is determined to serve them in the future, and will explore the most appropriate options to do so.
Mosaic Responds to ITC Decision
The Mosaic Co., Tampa, has responded to the U.S. International Trade Commission decision announced today that determined that subsidized phosphate fertilizer imports from Morocco and Russia have materially injured the U.S. phosphate industry.
“Mosaic employees are proud to support American farmers by producing high quality, reliable fertilizer,” said Mosaic President and CEO Joc O’Rourke. “Today’s decision upholds our belief that fair trade is a cornerstone of a healthy U.S. economy, and that American farmers will benefit from having a more competitive American fertilizer industry.”
As a result of this ruling, the U.S. Department of Commerce will issue countervailing duty orders on phosphate fertilizers from Russia and Morocco, which will remain in place for at least five years. The cash deposit rates for such imports are expected to be approximately 20 percent for Moroccan producer OCP, 9 percent and 47 percent for Russian producers PhosAgro and EuroChem, respectively, and 17 percent for all other Russian producers.
ITC Makes Affirmative Decision in Phosphate Case
The U.S. International Trade Commission has made affirmative determinations in its final phase countervailing duty investigations concerning Phosphate Fertilizers from Morocco and Russia.
Mosaic Boosts Dividend 50 Percent
The Mosaic Co. said March 11 that its Board of Directors has approved an increase to the company’s annual dividend target to $0.30 from $0.20 per share with the next effective declaration, which is expected to be in May 2021.
Koch to Invest $150 M at Enid
Koch Fertilizer (KF) said March 10 that it is investing approximately $150 million at its Enid, Okla. nitrogen production facility to increase urea production and enhance reliability of existing production units as well as improve rail infrastructure and ammonia truck loading facilities. The project will increase production of ammonia upgrade products. Once complete, KF Enid will be able to supply up to 1.8 million st of ammonia upgrade products annually. Construction is anticipated to begin in 2021, with startup occurring in 2022.