One day after the Mosaic Company announced it was going to curtail phosphate fertilizer production for the first quarter, Russia’s largest phosphate company announced they are doing the same. Phosagro says it will reduce production of diammonium phosphate (DAP) and monoammonium phosphate (MAP) by 18 percent in the first quarter.
Price seems to be the main reason for the cutbacks, Bloomberg reports since peaking in July, DAP prices have fallen around 15 percent in the U.S.
Just like Mosaic,
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