September 9, 2019 / 9:23 PM / 8 days ago

Mosaic to idle Louisiana phosphates operations to cut 2019 output

Sept 9 (Reuters) - U.S. fertilizer company Mosaic Co said on Monday it would idle its Louisiana phosphates operations to cut production by about 500,000 tonnes in 2019 as more imports into the country have pushed down prices.

The company also said it will buy back $250 million of shares and added that its Brazilian unit, Mosaic Fertilizantes, would cut another $200 million of costs by 2022. (Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel)

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