PotashCorp announces second highest first quarter profit

After a large slump last year, the Potash Corporation saw a dramatic increase of 46 per cent in profits during the first quarter this year.

In total the corporation earned $449 million, which is its second highest first quarter profit ever. PotashCorp says farmers are hoping to catch up on applications that were missed last year; however, the corporation does suggest global potash shipments will stay below historical levels in 2010, so inventory levels will not be restocked.