Nutrien hit by cold weather and trade war
Nutrien has reported that the company’s profit in the Q1 of this year may to be less than previously expected. The adjusted earnings per 1 share may amount to $ 2.6 instead of $ 2.73. And 2020 full-year earnings may also be not as high as predicted by industry analysts.
The drop in profits is explained at Nutrien as the effect of a combination of factors, ranging from the drawn-out trade war between the United States and China and the extremely cold winter in North America, which has delayed planting. That had forced Nutrien to extend the shutdown of its Vanscoy mine in Canada and significantly reduce potash fertilizer production.
Nevertheless, Nutrien top managers see progress in trade relations between the USA and China, which has already led to positive sentiments among North American companies hoping that agricultural exports to China can grow in the sort and medium term, pulling along the demand for potash fertilizers.