Oslo-Yara International ASA reported an 89 percent drop in net income for the third quarter ending Sept. 30, 2009, to NOK 353 million versus the year-ago NOK 3,172 million. Revenues were NOK 14,379 million, down from the year-ago NOK 25,000 million. Yara said results were unsatisfactory mainly due to its NPK business, which was hampered by high potash prices. European NPK sales were down 41 percent. It expects NPK demand to return once potash prices normalize. Even with the drop in NPK sales, overall volumes for fertilizer were up in the quarter, to 5.2 million mt from the year-ago 4.74 million. Nine-month fertilizer volumes are down, at 15.3 million mt from 17.04 million mt. Nine-month net income was NOK 2,392 million on sales of NOK 47,627 million, down from the year-ago NOK 10,400 million and NOK 69,818 million.

Sioux City-Terra Nitrogen Co. LP reported net income for the third quarter ending Sept. 30, 2009, was off 84 percent to $17.3 million ($.64 per limited partnership unit) on sales of $101.5 million, versus the year-ago $106.2 million ($3.41 per unit) and $246.6 million. Nine-month net income was $121.4 million ($4.18 per unit) on sales of $409.6 million, versus the year-ago $317.9 million ($11.35 per unit) and $677.8 million.

White Plains, N.Y.-Bunge Ltd. reported a 251 percent drop in fertilizer earnings for the third quarter ending Sept. 30, 2009, to a loss of $127 million versus a year-ago profit of $84 million. The company cited a continued mismatch between current market prices and inventory costs. Third-quarter volumes were actually up 24 percent, at 3.8 million mt from the year-ago 3.08 million mt; however, net sales were off 37 percent, to $1.19 billion from $1.89 billion. Fertilizer posted a nine-month loss of $442 million compared to year-ago profit of $610 million. Nine-month volumes were off 5 percent, to 8.3 million mt from 8.75 million mt. Nine-month sales were off 44 percent, to $2.7 billion from $4.87 billion. Overall, Bunge reported only a 1 percent drop in net income for the quarter, to $232 million ($1.62 per common share) on sales of $11.3 billion, versus the year-ago $234 million ($1.70 per share) and $14.8 billion. Nine-month net income was off 73 percent, to $350 million ($2.48 per share) on sales of $31.5 billion, versus the year-ago $1.27 billion ($9.26 per share) and $41.6 billion.

Olin, Iowa-The Jones County sheriff says he may be getting some “inside” help investigating the anhydrous ammonia release earlier this month that caused the evacuation of nearly the whole town of Olin. Investigators are focusing on the Tanks-A-Lok security device that was on the ammonia tank at River Valley Co-op and is in widespread use in this state and many others in the U.S. Tanks-A-Lok makers and many of the users insist that there is no way beyond having a key to open the device. “If the lock is properly installed and in use it they (the thieves) would have had to access the tank in another way,” insisted Kim Swinford, U.S. manager for Smith Flow Control, which has exclusive rights to distribute Tanks-A-Lok in North America. Jones County Sheriff Mark Denniston disclosed that he’s been in touch with someone who has had “experience” with raiding ammonia tanks who may have the answer to that puzzle. “I have been contacted by an ex-con,” Denniston told Green Markets, “and he claims to be able to show us how he bypassed the locks when he was stealing the product prior to his incarceration.” Denniston said he hasn’t heard back from the informant, but expects to find out soon when he wants to meet and demonstrate the method.

Bloomington, Ill.-Driven by a strong performance from its Energy, Seed, and Crop Protection divisions, Growmark Inc. reported sales of $6.1 billion and net income of $96.9 million for the fiscal year ending Aug. 31. Spurred by an increase in FS seed corn volume, Growmark Seed Division sales totaled $240 million, a 23 percent increase over last year. An 18 percent sales increase was achieved by the Crop Protection Division, and the cooperative’s Energy Division continued to see investments in infrastructure with biodiesel blending capabilities at the Menard County, Ill., terminal and at Madison Service Company’s Roxana, Ill., bulk plant. Growmark owns nearly 19 percent of the refinery operation located in McPherson, Kan., and said it received more than $50 million in patronage from the National Cooperative Refinery Association (NCRA). Plant food operations for the co-op, however, resulted in a loss due to a declining price environment throughout the year. The worldwide economic downturn created significant demand destruction and oversupply of fertilizer, the cooperative said, resulting in a huge drop in fertilizer prices after inventories at Growmark were in place for fall application. Growmark’s Facility Planning and Supply Division posted increases in sales and gross income for the fourth consecutive year. Contributing to this success, Growmark noted, was the construction of commercial grain storage facilities and programs with equipment manufacturers as FS member cooperatives invested in application equipment and rolling stock. In addition to grain partnering efforts with local FS member cooperatives in Illinois and Ontario, Growmark said it is adding storage capacity and connecting farmers with more end-use markets through a partnership with Central States Enterprises, a grain and feed company based in Lake City, Fla. More than $82 million in patronage refunds will be returned to Growmark member cooperatives, the company announced. MID-CO Commodities, a subsidiary of Growmark, had $1 million in income this year and will return $250,000 in cash patronage.

Washington-U.S. Customs agents, along with Colombian and Mexican law enforcement officers, last month seized more than $41 million in U.S. currency in Colombia and Mexico ports. It was described as the largest-ever bulk cash container seizure, and included more than $11 million in U.S. currency hidden in bags of ammonium sulfate. Narcotics dealers are known to smuggle bulk cash shipments out of the U.S. to pay for shipments being brought back in. On Sept. 9, some $11.2 million in U.S. currency was found hidden in two shipping containers, each with 20 big bags filled with ammonium sulfate. Sixteen of the 40 bags contained $700,000 in $20 dollar bill denominations. According to Colombian customs inspectors, this seizure is the most cash ever seized by police at a port in Colombia. On Sept. 10, U.S. currency estimated at $11.2 million was also seized at the port of Buenaventura. Between Sept. 11 and 18, smugglers were found to have switched concealment tactics when officials at the Port of Manzanillo, Mexico, made additional seizures estimated at over $25 million hidden inside two shipping containers containing sodium sulfate. U.S. Immigration and Customs Enforcement spokesman Brandon Alvarez-Montgomery told Green Markets that using fertilizer to hide contraband is not unusual. “Smugglers use all types of unique ways to hide illegal goods such as drugs and money,” he pointed out. “It’s our job to determine through intelligence and investigative resources where and how these things are done.” He added that the investigation is ongoing.