Mosaic cuts output after $258 million quarterly loss as sulfur disruption lifts fertilizer costs

Mosaic, one of the world’s largest phosphate fertilizer makers, said disrupted sulfur shipments through the Strait of Hormuz have driven up a key input that now accounts for about half of its roughly $800-per-ton selling price. The company reported a net loss of $258 million for the quarter ending March 30 and said it will slow production at some plants. Even after the United States and Iran reached a preliminary ceasefire agreement on Sunday, shipping and supply chains could take months to normalize, with damaged infrastructure potentially not rebuilt until 2028, according to an agricultural economist at North Dakota State University.