MOS - Mosaic Nutrien surge as Vancouver port strike threatens potash supply

2023-07-07 19:17:16 ET

Mosaic ( NYSE: MOS ) was the S&P 500's third biggest gainer Friday, +5.3% to its strongest close in nearly two months, as the strike at the Port of Vancouver threatens to disrupt supply chain dynamics of various goods including potash fertilizer.

Nutrien ( NYSE: NTR ), the world's top global potash producer, closed +3.3% , while CF Industries ( CF ) ended +3.8% and Intrepid Potash ( IPI ) finished +9.1% .

Canada is the world's largest producer and exporter of potash fertilizer, followed by Russia and Belarus, and alternative sources for the critical crop nutrient are few, as sanctions have reduced Russian and Belarusian supplies.

Canada exports 95% of all the potash it produces, with the majority flowing through the Port of Vancouver, according to trade group Fertilizer Canada, which is calling on the federal government to take action to end the work stoppage.

More than 7K British Columbia port workers with the International Longshore and Warehouse Union began striking July 1.

More on Mosaic:

Financial and valuation comparison to sector peers

• Analysis: Mosaic: Attractive Entry Point For Long-Term Investors
• Stock price return: Down 17.5% YTD, down 18% in the past 12 months

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