MINNEAPOLIS (AP) — A big shake-up in the fertilizer business is demolishing the share prices of companies that make nutrients.
On Monday night Russian fertilizer company Uralkali said it will drop out of a pricing cartel that kept prices up. The move is likely to sharply reduce the price of potash, a nutrient used in fertilizers. Investors are reacting by chopping the share prices of some fertilizer companies by 20 percent.
The Mosaic Co. is down 19 percent. Potash Corp. of Saskatchewan is down almost 21 percent.
Potash has been selling for close to $400 per ton. Some analysts believe ...