By Reuters Staff
3 Min Read
(Reuters) - Canadian fertilizer maker Nutrien Ltd posted fourth-quarter profit above analysts’ estimates on Wednesday as potash demand rose amid rising crop prices, sending its U.S.-listed shares up 4.5% in extended trade.
FILE PHOTO: An interior view of the storage warehouse is seen at Nutrien s Cory potash mine near Saskatoon, Saskatchewan, Canada August 12, 2019. REUTERS/Nayan Sthankiya
Fertilizer producers have benefited from high U.S. crop exports, including record-large corn sales to China. With crop prices touching multi-year highs, farmers are poised to plant more acres in 2021 and would require more fertilizers for their plantings.
Kraft Heinz Co and Conagra Brands Inc said they may choose to raise prices this year on some products that use wheat, sugar and other commodities that are becoming increasingly expensive due to high demand.
Jump in energy cost curbs profit Q4 adjusted EBITDA -3% to $511 mln vs $484 mln consensus Uncertainty over supply bigger than usual -CEO Shares rise 1%, outperforms Oslo stock market (Adds CEO quotes, analyst, updates shares)
OSLO, Feb 9 (Reuters) - Norwegian fertiliser company Yara proposed raising its ordinary annual dividend by a third to 20 Norwegian crowns ($2.36) per share on Tuesday and reported fourth-quarter core profits above expectations.
The Oslo-listed firm, one of the world’s largest producers of nitrogen fertilisers, said increased deliveries and production had offset the impact of higher energy prices.
Nitrogen fertiliser prices have been rising ahead of the planting season in the northern hemisphere, and the momentum is positive for 2021, Chief Executive Svein Tore Holsether told Reuters.
Jump in energy cost curbs profit Q4 adjusted EBITDA -3% to $511 mln vs $484 mln consensus Uncertainty over supply bigger than usual -CEO Shares rise 1%, outperforms Oslo stock market (Adds CEO quotes, analyst, updates shares)
OSLO, Feb 9 (Reuters) - Norwegian fertiliser company Yara proposed raising its ordinary annual dividend by a third to 20 Norwegian crowns ($2.36) per share on Tuesday and reported fourth-quarter core profits above expectations.
The Oslo-listed firm, one of the world’s largest producers of nitrogen fertilisers, said increased deliveries and production had offset the impact of higher energy prices.
Nitrogen fertiliser prices have been rising ahead of the planting season in the northern hemisphere, and the momentum is positive for 2021, Chief Executive Svein Tore Holsether told Reuters.
Japan has set a target to grow the nation's ammonia fuel demand to 3 million tonnes a year by 2030 from zero now and to create a new supply chain of the fuel in a bid to cut CO2 emissions and combat climate change, its industry ministry said on Monday.