(Dow Jones) -- Mosaic Co. said Tuesday it is cutting back phosphate fertilizer production because of high sulfur and ammonia prices.
The move isn't expected to result in employee layoffs, but will lead to lower operating rates at Mosaic's mines and concentrates plants, the company said.
"Phosphate raw material input costs are disconnected from fundamental agricultural economics, and have escalated despite weaker grain and oilseed prices," Chief Executive Jim Prokopanko said.
He said the company will focus on margins in the near term and limit the buildup of inventory during the seasonally-slow part of the year.
The company also said ...