Yara International ASA delivered weaker first-quarter results compared with a year earlier. Net income after non-controlling interests was NOK 1,692 million (NOK 6.19 per share), compared with NOK 2,800 million (NOK 10.22 per share) a year earlier.

“Yara reports a weaker result than a year earlier, reflecting lower fertilizer prices and margins. However, we delivered increased sales volumes, both for fertilizer and industrial products,” said Svein Tore Holsether, Yara president and CEO.

Tampa anhydrous ammonia prices have moved down to $330/mt CFR for May, down $10/mt from April’s $340/mt CFR.

LSB Industries Inc., reporting improved operational results, posted a first-quarter loss from continuing operations of $6 million on revenues of $123.3 million, compared to the year-ago loss of $15.8 million on revenues of $98.9 million.

“We have made positive improvements that are reflected in our first quarter 2017 results,” said Daniel Greenwell, LSB president and CEO. “As anticipated, pricing for our agricultural products, although slightly improved from the fourth quarter of 2016, remained well below prior year levels. However, our performance improved compared to the first quarter of 2016 as a result of stronger operations at our three primary chemical manufacturing facilities, enhanced by the incremental output from the new ammonia plant at El Dorado, which entered service in May of 2016.”

U.S. Nitrogen LLC reported a nitric acid release Wednesday evening, April 19 at its plant in Mosheim, Tenn.

“Around 6:30 p.m., U.S. Nitrogen experienced a release of nitric acid vapors,” according to a statement by the company. “The release is dissipating, and no workers were injured.”

“As part of standard operating procedure, U.S. Nitrogen notified 911, the Greeneville/Greene County Office of Emergency Management and the Greeneville Fire Department. The Office of Emergency Management is notifying nearby residents of the release as part of its protocol.”

“For the safety of our workers and the community, U.S. Nitrogen will cooperate with these agencies and will investigate the cause of the release to ensure that the issues are resolved.”

By 9:15 a.m., local authorities reported that the leak had been contained.

Until recently, USN had idled its nitric acid production citing a force majeure situation. However, in recent weeks it has increased its intake of water from the Nolichucky River and resumed production. A similar release occurred in August 2016.

Major Tampa molten sulfur buyers have concluded new second-quarter business at $70/lt, down $5/lt from the first quarter.

Israel’s Supreme Court has granted Haifa Chemicals a one-time permit to import by sea up to 11,000 mt of anhydrous ammonia. The permit will go into effect only after April 27 and be conditional on the meeting of several conditions.

Iowa Fertilizer Co. plans a ribbon cutting ceremony April 19 at its new $3 billion nitrogen plant in Wever, Iowa.

CHS Inc. reported net income of $14.6 million on revenues of $7.3 billion for the second-quarter ending Feb. 28, 2017, up from a year-ago loss of $31 million and revenues of $6.6 billion. All primary agriculture-related businesses reported increased earnings, except the company’s Country Operations retail segment. Wholesale Crop Nutrient earnings were up.

Just as the last fiscal year ended, March 31, the Indian Cabinet Committee on Economic Affairs fixed subsidy rates for the new fiscal year.

The subsidy for potash and phosphate go down, 20 and 9 percent, respectively, while nitrogen and sulfur go up, 20 percent and 1 percent, respectively.

Phosphates: Rs11.997/kg, down from Rs13.241/kg (US$185.10/mt and US$204.32/mt)

Potash: Rs12.395/kg, from Rs15.47/kg (US$191.61/mt and US$238.71/mt)

Nitrogen: Rs18.898, up from Rs15.854 (US$291.61/mt and US$244.64)

The changes in subsidy payments is expected to save the government about US$130 million because P&K consumption is expected to stay the same as last year, about 28 million tons.

The government also announced it will change the way it pays urea subsidies beginning in June.

At present, the government pays manufacturers the difference between the production price and the subsidized price of Rs5,360/mt (US$82.71/mt) when the urea is delivered to a railhead or other distribution center. The new plan will pay manufacturers based on actual sales to farmers with information gathered from specialized point-of-sale machines.

The government wants the machines installed in the 200,000 distribution centers in the country by the end of May. The change is expected to reduce illegal diversion of subsidized urea to industries such as textiles and plywood.

In the end, the government wants to move to payment of subsidies directly to farmers via the POS machines by the next fiscal year.