CROPS NEWS
Mosaic 2nd Quarter Net Up 0.8%
Fri Jan 4, 2013 11:52 AM CST

(Dow Jones) -- A slowdown in fertilizer shipments to Asia weighed on Mosaic Co.'s fiscal second-quarter earnings, although overall profit edged higher on a significant tax benefit.

The Minnesota-based fertilizer company, one of the world's largest potash and phosphate fertilizer producers, reported second-quarter operating earnings fell 30%. The decline was due mainly to lower phosphate volumes and prices, the company said.

Despite that pressure, net profit climbed 0.8% thanks to an income-tax benefit of 42 cents a share, and the results beat analyst expectations. Shares were recently up 2.6% to $58.30.

Even amid strong U.S. demand, the market for potash ...

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