Deerfield, Ill.-Terra Nitrogen Co. LP, now majority owned by CF Industries Holdings Inc., reported net income of $33.9 million ($1.78 per unit) on sales of $118.7 million for the first quarter ending March 31, 2010, versus the year-ago $43.3 million ($1.49 per unit) on sales of $165.3 million. UAN sales volumes were up during the quarter, to 471,000 st at a lower average price of $186/st, versus the year-ago 367,000 st and $289/st. Ammonia volumes sank to 52,000 st at an average price of $308/st, versus the year-ago 105,000 st and $437/st. The average natural gas price was $5.28/mmBtu, down from 1Q09’s $7.07/mmBtu.
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