The price of potash, a manufactured form of potassium, was in the dirt for the second half of 2013 following the sudden breakup of the Belarusian Potash Company, one of the world's biggest potash cartels. That news crushed leading potash company Mosaic.
On July 30th, shares of Mosaic (MOS) tumbled 17% after Russia's Uralkali and Belarus' Belaruskali called off their price-fixing agreement that for years had bolstered the price of potash. The dispute caused major disruptions in the industry, as uncertainty about the future cost of potash rippled across the market and sent prices into a nose dive.
Meanwhile, the price of phosphate, Mosaic's other main product, has also suffered.
But Mosaic is urging investors to stick with it. The company acquired Florida-based phosphate miner CF Industries in October for $1.2 billion and in December announced a plan to buy back over 43 million shares. --J.S.
