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Agrium, a Canadian agricultural products, services and technology provider, posted a net profit of US$172 million in the fourth quarter of 2007, compared with a loss of US$62 million in the same period of 2006. In 2007, the company’s sales revenue increased by 58% year-on-year. Reached 1.5 billion U.S. dollars. Sales revenue from retail sales increased by 45% year-on-year to US$555 million, while sales revenue from wholesale business increased by 69% year-on-year to US$908 million.
Talking about the main reason for the large increase in performance, Aggre’s president and chief executive, Mike Wilson, believes that almost all grain prices have reached a record high, which has greatly stimulated the enthusiasm of growers for investing in crops. He also said that the strong growth in demand for crop inputs and the new global capacity for nitrogen, phosphorus and potash fertilizers are limited, and the global fertilizer market will maintain its tight supply pattern this year.
In the fourth quarter of 2007, the profits of the US nitrogen fertilizer and phosphate fertilizer manufacturer CF Industrial Holding Co. were US$135.4 million, compared with US$10.9 million in the same period of last year. The company's sales revenue increased by 62% year-on-year to US$852.5 million, of which nitrogen sales revenue increased by 58% to US$630.7 million, and phosphate sales revenue increased by 75% to US$221.8 million. The company president and CEO Stephen Wilson also believes that the outstanding performance of the global grain market has led to strong growth in fertilizer demand. It is said that the company is currently evaluating the construction of a new world-class ammonia and urea complex in Peru, designing a liquid ammonia with a capacity of 2,100 tons/day and 3,300 tons/day of urea. The product will be supplied to the Central and South American market.
Terra Industrial Corporation earned US$69.7 million in the fourth quarter of 2007, compared with US$11.6 million in the same period of the previous year. Sales revenue increased by 26% year-on-year to US$570 million. It is said that this mainly benefits from the increase in the price of product sales, especially nitrogen-containing products. The sales prices of ammonia, nitrogen solution and ammonium nitrate rose by 16%, 69% and 20% respectively. Sales of ammonia and ammonium nitrate urea increased by 9% and 5%, respectively, while sales of ammonium nitrate fell by 22% year-on-year.
According to Mike Bonnet, president and CEO of Tracy Industries, in response to the increasing demand for nitrogen-containing products in the global market, the company is evaluating some projects to increase the capacity of existing devices. At the same time, the company has decided to restart a 400,000-ton/year liquid ammonia plant in Louisiana that was forced to shut down at the end of 2004 because of the unsustainable price of natural gas.
Compass Mining International, one of the largest potash fertilizer manufacturers in North America, posted a net profit increase of 92% to US$50.4 million in the fourth quarter of 2007, and sales revenue increased by 54% year-on-year to US$326.1 million. According to the company, this mainly benefits from the strong growth in product demand and the sharp increase in prices.
Supported by the growth of global demand and the sharp increase in agricultural product prices, North American fertilizer producers have significantly improved their performance last year and recently issued excellent fourth-quarter results in 2007.
November 17, 2023