U.S. markets closed
  • S&P 500

    3,933.92
    -7.34 (-0.19%)
     
  • Dow 30

    33,597.92
    +1.58 (+0.00%)
     
  • Nasdaq

    10,958.55
    -56.34 (-0.51%)
     
  • Russell 2000

    1,806.90
    -5.67 (-0.31%)
     
  • Crude Oil

    72.53
    +0.52 (+0.72%)
     
  • Gold

    1,799.30
    +1.30 (+0.07%)
     
  • Silver

    22.88
    -0.04 (-0.18%)
     
  • EUR/USD

    1.0515
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    3.4080
    -0.1050 (-2.99%)
     
  • GBP/USD

    1.2207
    +0.0001 (+0.01%)
     
  • USD/JPY

    136.5090
    -0.0150 (-0.01%)
     
  • BTC-USD

    16,850.61
    -230.10 (-1.35%)
     
  • CMC Crypto 200

    394.86
    -7.18 (-1.79%)
     
  • FTSE 100

    7,489.19
    -32.20 (-0.43%)
     
  • Nikkei 225

    27,686.40
    0.00 (0.00%)
     

Mosaic sees lower phosphate output, late shipments after Hurricane Ian hit

Oct 4 (Reuters) - Fertilizer maker Mosaic Co said it expects lower production and delayed shipments after Hurricane Ian caused "modest damage" to its phosphate operations in Florida.

The company, which mines phosphate rock in the state and produces 75% of North America's phosphate fertilizers, said it expects its phosphates output to be down by about 200,000 to 250,000 tonnes, split roughly evenly between the third and the fourth quarters.

Tampa-based Mosaic also expects its phosphates sales volumes in the third quarter to be in the range of 1.60 to 1.65 million tonnes, down from the 1.7 to 2.0 million tonnes it had forecast in August, as port and rail closures delay its late third quarter shipments to October.

Repairs are expected to be completed over the next one to two weeks, it added.

The company's spokesperson had previously said it had evacuated some sites in the state and was keeping minimal staff at others, without confirming if it had stopped production. (Reporting by Ruhi Soni in Bengaluru; Editing by Maju Samuel)