We dont need sky high grain prices for MAK to be very profitable. It's all a cycle, phopshate usage is in a lull but the real comparisons should be made with the usage of 2,3 and 5 years ago, not with the bubble boom of recent times. Then compare the supply equation now to 2,3, and 5 years ago and who was supplying then. The whole dynamic has changed. Phosphate production is no longer being government subsidised. Higher phosphate prices are here to stay. In my opinion of course.
potash corp, page-6
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