Fertiliser sales boost
Resiliently strong grain and oilseed prices are boosting demand for Agrium’s fertilisers and other farm input products, the company has said. Agrium said it expects its retail business unit to produce more than US$120 (€89m)million in earnings from operations before finance costs, income taxes, depreciation and amortization (EBITDA), which would make for a record year of about $950m in EBITDA. Wholesale operations are also providing better-than-expected results with anticipated EBITDA for the fourth quarter and the year of $500m and $1.9 billion, respectively. “Going forward, continued strength in crop prices and low global grain inventories are anticipated to support a strong spring application season in 2013,” Agrium president and chief executive Mike Wilson said.