Reading Time: 2 minutes Reuters — Canada’s PotashCorp, set to merge with rival Agrium to withstand a fertilizer slump, reported a smaller-than-expected quarterly profit Thursday and narrowed its full-year forecast, pressuring its stock. Prices of crop nutrient potash have leveled off this year after hitting eight-year lows late last year due to low crop prices and excessive production capacity. […] Read more
PotashCorp Q3 profit disappoints ahead of merger
Canada’s antitrust watchdog clears Nutrien merger
Reading Time: 3 minutes Canada’s Competition Bureau will put up no reasons why PotashCorp and Agrium shouldn’t be joined in Nutrien. The federal antitrust regulator on Monday issued a “no action” letter on the all-stock merger-of-equals that Saskatoon’s PotashCorp and Calgary’s Agrium proposed in September last year. The two companies, when merged, are to be headquartered in Saskatoon under […] Read more
Trio of groups proposes Alberta-based agrifood ‘supercluster’
Reading Time: 2 minutes Agrium, Olds College and global satellite communications corporation MDA have submitted an application to the federal government to form an agrifood “supercluster.” The Liberal government committed up to $950 million (over five years) in its March budget to create hubs that would focus on key economic sectors in an effort to kickstart investment, boost exports […] Read more
PotashCorp, Agrium choose new married name
Reading Time: < 1 minute Canadian fertilizer giants Agrium and PotashCorp have picked the new brand under which they plan to do business once their proposed merger clears. Calgary-based Agrium and Saskatoon-based PotashCorp announced Wednesday their new merged company, pending regulatory review and approvals, will be named Nutrien. “The new organization will be the global leader in reliable, low-cost crop […] Read more
Agrium buys polymer maker’s ag chem applications
Reading Time: 2 minutes Fertilizer and ag retail firm Agrium has closed a deal for an Australian polymer maker’s ag chemical business, aiming to put it to work in fertilizer and pesticide application. Calgary-based Agrium said Tuesday it has bought Starpharma Holdings’ agrochemical business for A$35 million (C$35.3 million) via Agrium’s U.S. crop input arm, Loveland Products. The deal […] Read more
Agrium posts smaller-than-expected loss for quarter
Reading Time: < 1 minute Reuters — Agrium, the world’s biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash. The Calgary-based fertilizer and ag retail firm sold 636,000 tonnes of wholesale potash in the first quarter ended March 31 at an average of $208 per tonne, compared with 456,000 tonnes at $199 per […] Read more
PotashCorp notches higher profit as sales climb
Reading Time: 2 minutes Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more
Canpotex aims for ‘material’ potash price bump from China
Reading Time: 2 minutes Winnipeg | Reuters — Canadian potash exporter Canpotex is pressing Chinese buyers to pay a “material” price increase for the fertilizer in their annual supply contract, as spot values in other markets rise off multi-year lows, Canpotex’s chief executive said on Monday. “We’re not interested in some kind of ratcheting down. That is for sure,” […] Read more
Indian regulator warns on Agrium-PotashCorp merger
Reading Time: < 1 minute New Delhi | Reuters — India’s competition regulator said the proposed merger between Agrium and PotashCorp was likely to hurt competition, a government statement said Wednesday. The two Canadian fertilizer producers agreed to merge last September to navigate a severe industry slump by boosting efficiency and cutting costs. Neither Agrium nor PotashCorp have physical presence […] Read more
Agrium forecasts less profitable year than expected
Reading Time: < 1 minute Reuters — Fertilizer maker Agrium, the world’s biggest farm retailer, on Thursday forecast a less profitable year than expected and said its quarterly profit plunged. The Calgary-based company said after normal trading hours that it expects to earn $4.50-$6 per share in 2017. The midpoint of $5.25 fell below analysts’ average estimate of $5.45, according […] Read more
A message from April Stewart, Country Guide's Associate Editor
