Potash majors report slow-but-steady market recovery as robust demand pushes prices, profits higher

Canadian potash majors Potash Corp of Saskatchewan and Agrium Inc have reported higher sales volumes for the crop nutrient for the second quarter ended June 30, pushing potash prices higher, despite a persisting market glut. Calgary, Alberta-based Agrium has reported adjusted net earnings – which removes special items during the quarter from the balance sheet – of $566-million, or $4.09 a share, beating analyst forecasts calling for earnings of $4.03 a share, based on expected revenues totalling $6.36-billion.