Tel Aviv-ICL Fertilizers, a unit of Israel Chemicals Ltd., reported a 57 percent increase in sales during the first quarter ending March 31, 2007, to $451.8 million versus the year-ago $287.9 million. However, sales should have been up due to the year-ago stalemate in potash negotiations to China and India. Now both potash and phosphate volumes are up, as are prices for both products. ICL Fertilizer operating income was $75.8 million versus the year-ago $54.5 million. Company-wide, Israel Chemicals reported net income of $95.4 million on sales of $883.0 million, versus the year-ago $96.6 million and $717.0 million, respectively. The company said improved fertilizer results were somewhat offset by a reduction in sales of bromine and flame retardants. The shekel’s increase against the dollar was also a factor.
Transparency Across the Fertilizer Value-Chain