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  • The Global Agricultural Boom: No Bubbles Here
    How childish to ask if people started eating more lately? World population is increasing, and the quality of diet expecially in China is moving up which increases demand for fertilizer, along with ethanol/corn. Add to this that Mosaic removed 20% of their production capability in phosphates just before the boom to shift the balance of supply and demand even further. Add that this is an incredibly capital intensive business, and that you can only mine minerals where they exist naturally, there are huge barriers to entry--and there is a major new production facility under construction in Saudi Arabia keeping others from jumping in (the Saudi project is scheduled for 2012 at the earliest--probably later). There is no bubble--quite the opposite--Mosaic, Potash Corp, and CF have dramatic increases in earnings to report in the next few quarters, and are still undervalued.
    Apr 18 18:44 pm |Rating: 0 0 |Link to Comment |View article

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