Agrium, the Calgary-based nutrient company, reports net earnings reached a record $860 million, or $5.44 per share for the second quarter of 2012. That compares with earnings of $718 million reported in the second quarter of 2011.
“The demand for crop inputs remained strong through to the end of June, despite the very early start to the spring season in the U.S.,” said Mike Wilson, Agrium President and CEO. " We expect high crop prices and tight grain inventories to create significant support for international nutrient demand in the coming year, as growers globally are expected to expand acreage and optimize application rates. Inventories for most crop nutrients remain tight in North America as retailers have ended the season largely empty. The combination of these factors and an expected early start to the fall harvest and application season is expected to result in solid crop input demand in the back half of 2012 and Agrium will be there to provide the expertise and products necessary for growers to meet the unrelenting global growth in demand for food,” added Wilson.
