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IMC FERTILIZER REPORTS 'OUTLOOK STILL GOOD' DESPITE DISAPPOINTING PRICES OF KEY PRODUCTS

 IMC FERTILIZER REPORTS 'OUTLOOK STILL GOOD'
 DESPITE DISAPPOINTING PRICES OF KEY PRODUCTS
 NORTHBROOK, Ill., March 18 /PRNewswire/ -- IMC Fertilizer Group, Inc. (NYSE: IFL), said today in response to questions concerning the recent downward pressure on the company's stock price that, although prices for most products have not matched the expectations generated from key indicators, the basics remain positive and the U.S. agricultural economy still looks good.
 "Prices continue disappointing, given the good tonnage shipped to date in both domestic and international markets, but volume indicators still are positive for the traditional heavy spring planting season in the U.S. as well as expected shipments to key offshore markets, including China, India and Pakistan," according to Billie B. Turner, IMCF chairman and chief executive officer.
 Reviewing specific products, Turner said the outlook remains positive for a good spring season as U.S. farmers aim for higher production levels to replenish very low grain inventories -- the lowest in nearly 15 years.
 "On the international side, volumes have remained good for key products such as diammonium phosphates (DAP), but just as in the domestic market, prices fail to reflect current tight supplies and high operating rates."
 Turner said excellent plant performances have provided important cost improvements, but not sufficient to offset the lagging prices.
 "Phosphate rock volumes, especially to European markets, have been slow, while domestic shipments remain relatively unchanged from earlier expectations," he said.
 "Volumes for potash, the company's other major fertilizer product, have been strong since December. However, prices have not improved as rapidly as forecast earlier."
 Reviewing other aspects of IMC Fertilizer's business, Turner reported its Main Pass joint venture remains on schedule. Oil operations have begun. The sulphur production is expected to start up in the near future.
 "Earnings from IMCF uranium operations, which were expected to decline sharply with the expiration of long-term contracts on June 30, 1992, will diminish somewhat sooner as the company fulfilled its supply agreements to a major customer through increased deliveries during the first half of this fiscal year," Turner said.
 IMC Fertilizer Group, Inc., is one of the world's leading private enterprise producers and marketers of two basic fertilizer materials, phosphate rock and potash, and a manufacturer of concentrated phosphates. The company also produces oil and natural gas, and recovers uranium oxide for upgrading by electric utilities for use as fuel in nuclear power plants.
 -0- 3/18/92
 /CONTACT: Tom Unzicker (media), 708-205-4839, or John E. Galvin (investors), 708-205-4814, both of IMC Fertilizer/
 (IFL) CO: IMC Fertilizer Group, Inc. ST: Illinois IN: CHM SU: ECO


GK-TS -- NY012 -- 9103 03/18/92 09:36 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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