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How Fertilizer Producers’ Phosphate Margins Stacked Up in 4Q17

How Fertilizer Producers’ Phosphate Margins Stacked Up in 4Q17

According to Mosaic, the margin expansion was due to higher realized prices, which we discussed earlier, and lower input costs such as phosphate rock costs. Agrium’s gross margins took a hit as a result of a higher input cost of phosphate rock and sulfur.