December 25, 2024 | 01:38 GMT +7
Hotline: 0913.378.918
December 25, 2024 | 01:38 GMT +7
Hotline: 0913.378.918
The move could help Mosaic, which stands to benefit from rising prices that might stem from potential potash production cuts.
Shares of fertilizer producer The Mosaic Company (MOS) jumped over 5% on Monday, posting the strongest performance of any stock in the S&P 500 following reports Belarusian President Alexander Lukashenko proposed potash production cuts in an effort to boost prices.
Lukashenko reportedly met Monday with Andrey Rybakov, new chief executive officer (CEO) of Belaruskali, the Eastern European nation's largest potash fertilizer company, and suggested approaching potash producers in Russia to coordinate cutting production of the potassium-rich chemicals and minerals by 10% to 11%.
The move could lead to higher prices, benefitting Mosaic, with Belarus and Russia jointly accounting for around 40% of global potash exports.
Shares of Mosaic climbed 5.4% to finish at $28.33 Monday, though even with Monday's gains, they've lost more than one-fifth of their value since the start of the year.
Mosaic's stock price has been under pressure in recent months, with the company warning in September that "sustained operational challenges"—including electrical equipment failures at two mines in Saskatchewan, Canada—would reduce its potash production and shipment volumes by 200,000 to 300,000 tonnes in the third quarter.
Mosaic is set to report third-quarter results before markets open on Nov. 12.
(Yahoo/Finance)
(VAN) Vietnam's trade turnover reached nearly USD800 billion, a 15% increase compared to the same period last year, with exports rising by almost 14%, significantly surpassing the target of 6%.
(VAN) The Vietnam Association of Seafood Exporters and Producers held a ceremony to celebrate seafood exports reaching 10 billion USD in 2024, with expectations for better growth in 2025.
(VAN) After Monday, a drier trend sets in for Argentina before rain returns next week. Soymeal is retreating on falling world prices as Argentina is slated to crush a record amount of beans.
(VAN) Cocoa’s rally has soared past all major commodities in 2024, and there’s little sign the tight supply and fragile trading landscape that prompted its near-vertical trajectory are in for a fast fix.
(VAN) The total oilseed crop including sunflower, rapeseed and soybeans is estimated at 1.6 million tonnes, down from 2 million tonnes a year ago.
(VAN) The USMCA dispute panel ruled in favor of the United States on Friday, stating Mexico violated the trade agreement with its decree to ban GMO corn.
(VAN) According to information from the Plant Protection Department (Ministry of Agriculture and Rural Development), Vietnam and the United States are negotiating plant quarantine measures for fresh passion fruit.
