Fertilizer Demand Boosts Viterra 3Q Profit 69%

Matt Hopkins Posted by Matt Hopkins|16 September 2008

Thanks to higher demand for fertilizers, seeds, and crop-protection products, third-quarter profit for Canadian grain handler Viterra Inc. rose 69%, according to Bloomberg.com. The company – which owns 34% of a nitrogen-fertilizer plant in Alberta, Canada – reported that pretax earnings for agricultural products almost doubled to more than US $189.3 million.

Since February 2008, wheat, corn, and soybean prices have all reached record highs.