The Mosaic Company is reporting a net first quarter loss of $202 million for the quarter that ended March 31. The Mosaic Company says demand for crop nutrients remains strong and operations are relatively unchanged by the coronavirus pandemic. However, Chief Financial Officer Clint Freeland says while Mosaic’s first quarter sales were down, sales volumes were up 14 percent from last year. “The extended North American fall application season benefited potash and phosphate volumes. The combination of this strong demand and industry curtailments led to a rebound in phosphate spot prices in the quarter,” says Freeland. “This dynamic has accelerated into the North American spring season. Recall, however, a lag between market price changes and realizing those prices in our results.”
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