Mosaic Co. shows steep stock drop as turmoil strikes world potash market

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Shares of Plymouth-based Mosaic Co. closed down sharply Tuesday, dropping more than 17 percent.

Bloomberg News reports that the Plymouth-based company, North America's second largest potash producer, blamed the decline on a major shift in the global potash market. Potash is a key component in crop fertilizers.

Potash producers on both sides of the Atlantic reported double-digit losses Tuesday after the Russian company Uralkali, one of the world's largest potash producers, cut its outlook for prices for the year. The Wall St. Journal's MarketWatch blog reports the price of potash could drop by 25 percent by the end of the year.

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