CROPS NEWS
Mosaic Profit Off 18%
Tue Oct 2, 2012 12:08 PM CDT

(Dow Jones) -- Mosaic Co.'s fiscal first-quarter earnings fell 18% as the fertilizer producer's sales declined because of production problems and weak demand in China and India.

Shares were down 4% at $55.69 Tuesday morning as the results missed analyst forecasts.

Mosaic said revenue fell 19%, weakened by lower sales volumes and prices for phosphate, its biggest source of revenue.

The Plymouth, Minn., company struggled to meet phosphate demand due to longer-than-normal annual plant repairs, as well as disruptions from Hurricane Isaac at its Louisiana facilities at the end of August. Sales at Mosaic were further hurt by low Mississippi ...

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