| Following a 10 percent decline in phosphate fertilizer production in 2006, analysts predict producers will experience an increase in consumption near 10 percent in 2007. The growth is attributed to a return to larger corn plantings and the associated increase in application rates. High margins are likely for the next several years. While exports of phosphate based fertilizers to China will decline in 2007, demand from India is likely to increase. Predictions for growth in phosphate fertilizer consumption in Brazil add to the rosy picture for U.S. producers. Supply is expected to remain balanced until 2009/2010, when an export-oriented phosphate complex will begin operating in Saudi Arabia. |
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