2009 Agrium Fact Book v11 012910

Agrium 2009/2010 Fact Book
Agriums Fertilizer Industry
2009/2010 FACT BOOK
Table of Contents
Agrium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Profile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Agrium Timeline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . History. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Production Facilities and Annual Production Capacities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 2 3 5
North America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Agrium Retail: Best in Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Agrium Retail Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Crop Production Services (CPS). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Agrium Retail Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Selected Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Agrium Wholesale: Leading Global Supplier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Agrium Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Agrium Wholesale Owned Distribution Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Agrium Wholesale Production and Distribution Locations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Selected Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Agrium Advanced Technologies: Embracing the Future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Annual Production Capacities by Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 ESN Features, Advantages and Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Agrium Advanced Technologies Production and Distribution Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Selected Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Crops: Area, Production and Stocks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Corn Supply and Use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Fertilizer Application Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Nutrient Uptake and Removal by Field Crops . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Planted Area and Production by Crop . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Nutrient Uptake and Removal by Field Crops . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Total Consumption of Fertilizers and Plant Nutrients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Fertilizer Consumption. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Historical Fertilizer And Gas Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 South America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 South America Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Agrium South America Retail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Agroservicios Pampeanos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Agrium South America Retail Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 Agrium South America Wholesale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Production Capacity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Agrium Owned Distribution Facilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Agrium South America Wholesale Production and Distribution Locations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Selected Competitors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 Crop Production - Argentina. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 Crop Prodction - Brazil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Fertilizer Consumption in Brazil and Argentina . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 European Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Common Market Fertilizers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 Selected Competitors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Crop Production - Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 Fertilizer Consumption in Europe - Top Five . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
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Table of Contents
Asia and Parts of the Pacific Rim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 Asia and Parts of the Pacific Rim Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Asia and Parts of the Pacific Rim: Agrium China Office and Hanfeng Production Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Selected Competitors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Crop Production - Asia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Crop Production - Parts of the Pacific Rim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 Fertilizer Consumption in Asia and Parts of the Pacific Rim - Top Five . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 Fertilizer Consumption in Parts of the Pacific Rim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 Africa and the Middle East . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Africa and Middle Eastern Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Africa and the Middle East: Damietta (MOPCO) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Selected Competitors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 Crop Production - Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 Crop Production - Middle East (West Asia) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Fertilizer Consumption in Africa and the Middle East - Top Five . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 Agrium Going Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 Agricultural Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 Total Grains Supply/Demand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 Crop Cycles: Growing Seasons for Key Global Regions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 Fertilizer Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Fertilizer Consumption by Region. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Fertilizer Consumption by Country . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 Fertilizer Production by Region. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 Global Fertilizer Capacity by Country. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 World Nutrient Trade Data: Imports and Exports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81 World NPK Consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 Growth in World Fertilizer Consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 Fertilizer Supply/Demand Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 International Fertilizer Prices - Historical . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 World Population vs. Global Fertilizer Consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 United States Ethanol/Biodiesel Facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 Constants and Conversions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Fertilizer Production Processes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 Raw Material Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 Fertilizer Minerals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 Product Analysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 General Conversion Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 Energy Conversion Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..99 Other Constants and Conversions Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Calorific Values. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Nutrient Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Crop Weight Conversions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 IFA Regional Classification 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 IFA Regional Classification 1990-2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103
Agrium
History and Overview
Profile
(all figures in US$, except where noted)
Agrium Inc. is a major Retail supplier of agricultural products and services in North and South America, a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America through our Advanced Technologies business unit. Sales from our diverse portfolio of products and services generated US$10.03 billion in revenues in 2008. Agrium has 158 million shares outstanding and a market capitalization of over US$7.4 billion (as of October 28, 2009). Agrium employs over 10,000 people globally who are dedicated to the ongoing transformation of the Company to achieve our vision to be one of the worlds leading providers of inputs for plant growth by creating value for each of our stakeholders. Each of Agriums three business units (Wholesale, Retail, and Advanced Technologies) have unique characteristics. Our Wholesale division generates significant cash flow for the Company, but these cash flows are subject to greater volatility than Retail and Advanced Technologies. Our Retail division consistently provides a stable and growing level of cash flow, but the profit margins are much lower than for our Wholesale division.
Agriums Mission
Providing ingredients for growth.
Agriums Vision
Be one of the worlds leading providers of inputs for plant growth by creating value for each of our stakeholders.
Agrium Timeline 1931-1989

1931 Cominco Fertilizers Ltd. enters the fertilizer business. 1965 Homestead (Nebraska) Nitrogen Operations begins production. 1968 Borger (Texas) Nitrogen Operations begins production. 1969 Vanscoy (Saskatchewan) Potash Operations begins production. 1977 Carseland (Alberta) Nitrogen Operations begins production. 1987 Joffre (Alberta) Nitrogen Operations begins production.
Source:
www.CapitalIQ.com, a division of Standard and Poors, October 28, 2009
History
Agrium was formed to facilitate the reorganization of the fertilizer division of Cominco Ltd. and the acquisition of the fertilizer assets of Alberta Energy Company in 1993. Agriums shares were first publicly traded on the New York Stock Exchange on October 4th, 1996. The growth of Agriums Wholesale business was initiated with the acquisition of Nu-West Industries, a phosphate producer in Idaho in 1995. Agrium subsequently merged with Viridian in December 1996, substantially increasing the size of the Company. In 1997, Agrium announced the development of the phosphate rock reserve at Kapuskasing, Ontario to obtain a domestic rock supply for the Redwater facility. Production at the mine began in July 1999. In 1998, Agrium also acquired a phosphate rock mine located close to our Conda facility in Idaho to establish security of supply. Agrium acquired UNOCALs (Union Oil of California) agricultural products division in September of 2000. In 2000, Agrium expanded into the Argentina market with a 50 percent ownership in Profertil S.A. with production in Bahia Blanca, Argentina. In 2005, Agrium acquired the Western Canadian fertilizer distribution assets from Imperial Oil. In 2008, Agrium acquired a 70 percent equity position in Common Market Fertilizers S.A. (CMF), one of Western Europes largest fertilizer distribution companies. Agrium Wholesale continues to grow globally, in 2008 Agrium entered into an agreement with MISR Oil Processing Company, S.A.E. (MOPCO) of Egypt, whereby MOPCO acquired the EAgrium project, and EAgrium shareholders obtained an equity interest in the combined entity. Agrium owns a 26 percent interest in the combined entity, which includes the recently completed 675,000 tonne urea MOPCO facility which came into production in the fourth quarter of 2008. Agrium established its Retail division through the acquisitions of Crop Production Services (CPS) in September 1994 and Western Farm Service (WFS) in January 1995. Agrium established an international presence in Argentina under the trade name Agroservicios Pampeanos S.A. (ASP). In 2006, Agrium continued to build its Retail franchise through the acquisition of Royster-Clarks retail operations. Retail expansion continued in 2007 with the acquisition of ADMs 18 retail centers and 14 satellites in Kansas and Oklahoma. Closely following the successful integration of the Royster retail branches, Agrium completed the companys largest acquisition to date. In 2008, Agrium closed the acquisition of United Agri Products (UAP). This was a transforming transaction for Agrium, the acquisition further expanded our retail presence in the United States and improved our earnings diversification by increasing the profit contribution from our Retail business unit. Additionally, the transaction further diversified Agriums product mix by increasing our weight in chemicals. Upon completion of the acquisition of UAP, Agriums retail branches in the United States increased from 489 locations to 929.
Agrium Timeline 1990-1999

1993 Cominco Fertilizers Ltd. enters the public market. 1994 Crop Production Services (CPS) acquired. 1995 Nu-West Industries Inc. and Western Farm Service (WFS) acquired. Cominco Fertilizers Ltd. changes its name to Agrium Inc. 1996 Agrium is publicly traded on the New York Stock Exchange. 1998 Ramussen Ridge (Idaho) Phosphate Mine acquired 1999 Kapuskasing (Ontario) Phosphate Mine begins production.
Viridian Inc. acquired. Redwater (Alberta) Fertilizer Operations (commenced operations 1968) and Agrium establishes its Fort Saskatchewan international presence (Alberta) Nitrogen under the trade Operations name Agroservicios (commenced Pampeanos (ASP). operations 1983).
History
Agriums Advanced Technologies business unit was established with the acquisition of Nu-Gros fertilizer technology and professional businesses and Pursell Technologies in 2006. In 2007, Agrium acquired a 19.6 percent equity interest in Hanfeng Evergreen, a Chinese specialty fertilizer company. With this addition, Agrium reaffirmed its leading position to provide environmentally friendly, controlled-release crop input products to a broad range of customers and segments. Further expansion occurred in 2008 with the acquisition of the Agronomics Division of Turf Care Products Canada Limited. Today, Agrium is a major retailer, a leading wholesale producer, and an innovator through our Advanced Technologies business unit fully diversifying ourselves across the value chain. As we enter into 2010, Agrium will continue to focus on achieving our mission and vision by continuing to execute against our strategic goals of investing through the value chain, establishing and maintaining the lowest cost to serve wholesale position, diversifying geographically, and investing counter-cyclically.
Agrium Timeline 2000-Present

2000 Unocal agricultural products division acquired. Profertil S.A. begins production in Bahia Blanca, Argentina. 2004 Astaris Production LLC assets (Nu-Wests Conda, ID phosphate operation) acquired. 2005 W. Canadian fertilizer distribution assets from Imperial Oil acquired. 18 retail outlets in Argentina and Chile from United Agri Products acquired. 2006 Royster-Clark acquired. Nu-Gro fertilizer technology and professional products businesses acquired. Pursell Technologies acquired. 2007 19.6 percent equity stake in Hanfeng Evergreen acquired. ADMs 18 retail centers and 14 satellites in Kansas and Oklahoma acquired. 2008 United Agri Products (UAP), acquired. 70 percent equity position in Common Market Fertilizers S.A. (CMF) acquired. Agrium opened an office in Beijing, China. Agronomics Division of Turf Care Products Canada Limited acquired. 2009 Agrium Retail consolidates all United States operations under the name Crop Production Services (CPS). 26 percent shareholding, in MOPCO (Egypt) obtained.
Production Facilities and Annual Production Capacities Production Capacity

(product tonnes per year)
Production Capacity
Nitrogen Based Fertilizers Argentina

Bahia Blanca (Profertil S.A.) (1) Ammonia (gross) Ammonia (net) Urea 375,000 35,000 600,000
Nitrogen Based Fertilizers United States

Borger, Texas Ammonia (gross) Ammonia (net) Urea 490,000 430,000 99,000
Canada
Redwater, Alberta Ammonia #1 Ammonia #2 Ammonia Total (gross) Ammonia Total (net) Urea(2) Ammonium Nitrate(2) Ammonium Sulphate Nitrogen Solutions Carseland, Alberta Ammonia (gross) Ammonia (net) Urea Joffre, Alberta Ammonia (net) Fort Saskatchewan, Alberta Ammonia (gross) Ammonia (net) Urea 280,000 680,000 960,000 250,000 720,000 215,000 350,000 180,000 535,000 135,000 680,000 480,000 465,000 170,000 430,000 120,000
Upgrade Facilities(3)
Kennewick, Washington Nitrogen Solutions (material) West Sacramento, California Nitrogen Solutions (material) North Bend, Ohio Nitric Acid, Nitrogen Solutions (material) 430,000 204,000 110,000
Agriums World Capacity

(metric tonnes per year)
Upgrade Facilities(3) (Standard and Granum)

Nitrogen Solutions (material)
Egypt
Ammonia (gross) Ammonia (net) Urea(4) 101,000 20,500 175,000
Ammonia (gross)(5) Ammonia (net)(5) Urea(5) Ammonium Nitrate Ammonium Sulphate Solutions/Other MAP Potash
3,406,000 1,520,500 2,704,000 215,000 350,000 1,044,000 960,000 2,050,000
(1)
Profertil S.A. is 50 percent owned by Agrium Inc. and 50 percent owned by Repsol YPF, S.A. The stated capacity numbers represent Agriums 50 percent ownership. (2) Includes product used to produce nitrogen solutions. (3) Upgrade Facilities use ammonia from other sources. They do not purchase natural gas to produce their own ammonia. (4) Projected urea capacity will be 525,000 by 2011, based on 26 percent ownership position in MOPCO. (5) Only includes the 50 percent of Profertils capacity and 26 percent of MOPCO that are owned by Agrium Inc. Note: Figures exclude idle capacity.
Production Facilities and Annual Production Capacities Production Capacity

Production Capacity
Phosphate Based Fertilizers Canada

Redwater, Alberta Mono-Ammonium Phosphate 660,000 P2O5 Equivalent 345,000 Kapuskasing, Ontario Average Concentrated Rock is 37% P2O5 Concentrated Rock Mined Annually 0.95 Million Tonnes
Rainbow Plant Capacities(2) United States

Florence, Alabama Americus, Georgia Hartsville, South Carolina Total Rainbow 76,600 110,000 78,400 265,000
United States
Soda Springs (Conda)(1), Idaho Mono-Ammonium Phosphate 300,000 Phosphates P2O5 Equivalent 375,000 Dry Valley, Idaho Average Concentrated Rock is 31% P2O5 Ore Mined Annually 2.0 Million Tonnes Concentrated Rock Produced Annually 1.3 Million Tonnes Total Canada and United States (P2O5) 720,000
Agriums Approximate Share of 2008/09 North America Production Capacity

(3)
Ammonia (gross) Urea Phosphate Potash
21.1% 25.2% 9.2% 5.5%
Potash Based Fertilizers Canada

Vanscoy, Saskatchewan Potash KCl (MOP) 2,050,000
Agriums Approximate Share of 2008/09 Global Production Capacity

(4)
Ammonia (gross) Urea Phosphate Potash
1.8% 1.6% 2.2% 2.4%
(1) (2) (3) (4)
Conda produces other phosphate products such as merchant grade acid and super phosphoric acid. Includes over 30 different ammoniated grades of fertilizer. North America refers to Canada and the United States, and Agriums approximate share estimate is based on the International Fertilizer Development Centers (IFDC) June 2009 Canada and United States production capacity figures. Urea capacity includes urea solution capacity. Based on Worldwide Ammonia Capacity,Listing by Plant, June 2009. Worldwide Phosphoric Acid Capacity, Listing by Plant, June 2009. Worldwide Potash Capacity, Listing by Plant, June 2009. Worldwide Urea Capacity, Listing by Plant, June 2009.
North America
Agrium Retail: Best in Class

Our Retail division is the largest direct-to-grower agricultural retail operation in North America and generated over $5.5 billion in net sales in FY2008, primarily from seed, crop protection and fertilizer products. Agrium operates a network of 929 retail centers in the United States. Agriums Retail operations offer farmers a complete range of seed, liquid and dry fertilizer products, along with primary crop protection services including herbicides, insecticides and fungicides.
Agrium Retail Products

(for fiscal year 2008)
Fertilizer

Net sales of over $2.72 billion. Gross profit of $627 million. Purchasing advantages from our economies of scale. Our integrated fertilizer services provide customers with expert advice and application services.
Crop Protection

Net sales of $2.12 billion. Gross profit of $576 million. Purchasing advantages from our economies of scale.
Seed and Other Services

Seed and other services net sales totalled $683 million. Gross profit of $223 million. Seed and Other Services sales increased by 73.5 percent from previous year. Rapidly growing seed and private label seed businesses. Full service customer appreciation.
38% Crop Protection
49% Fertilizer
13% Seed and Other Services
Crop Production Services (CPS)(1)

(August, 2009)
Farm Centers/Branches Satellites Terminals Distribution Centers Total
638 211 71 9 929
In FY2008, Agriums United States Retail operations, Crop Production Services (CPS), generated net sales over $5.5 billion. In May 2008, Agrium completed the acquisition of United Agri Products; increasing Agriums retail presence in the United States to 929 locations. The acquisition of UAP expands Agrium Retails reach into new markets in the United States and repositions Retails product mix allowing us to more efficiently and effectively serve our customers. Agriums Retail branches are staffed with trained, professional employees committed to providing their growers with sound agronomic advice, seed that is selected from the best germ plasm pools in the world, and other crop inputs.
(1)
Please note a listing of Agriums South American Retail assets is on page 45.
10
Crop Production Services (CPS)

(August, 2009)
a Alabama
(16 locations)
a Arkansas
(contd)
c California (contd)
San Marcos Santa Ana* Santa Maria
(2 locations)
f Florida (contd)
Fort Pierce Hastings Homestead Immokalee Jay Lehigh Acres Mulberry Mulberry** Parrish St Augustine* Tampa** Wauchula Waverly Williston*
h Hawaii
(4 locations)
Andalusia* Ashford* Atmore Auburn Centre* Dothan Florala* Gordon* Headland Kinston Madison Robertsdale Selma (2 locations) Slocomb* Summerdale
Pocahontas* Portland Rector* Truman* West Helena** Winchester* Wynne
c California
(50 locations)
Santa Maria* Sebastopol Stockton Stockton* Ukiah Vernalis Visalia Walnut Grove
(2 locations)
Hilo Kahului Lihue Pearl City
i Idaho
(18 locations)
Arizona
(6 locations)
Chandler Coolidge Poston Tucson Wellton* Yuma
Arkansas
(23 locations)
Altheimer Barton* Blytheville* Clarendon Corning* Crawfordsville Des Arc Grady* Hazen Helena** Lepanto Marianna Mcgehee* Monette* Monticello Paragould*
Alpaugh Bakersfield Carpinteria* Coachella Cutler* Delano Dos Palos* Fillmore* Firebaugh Five Points Fresno Fresno** Goleta Greenfield Hanford Heber* Hollister Huron* Imperial Madera Merced Mettler Modesto (2 locations) Newman* Oxnard Oxnard* (2 locations) Paso Robles Pixley* Riverside Sacramento Salinas San Jacinto*
Watsonville
(2 locations)
Yuba City
g Georgia
(26 locations)
Colorado
(1 location)
Greeley
Connecticut
(1 location)
Broad Brook
d Delaware
(7 locations)
Americus Arlington Bainbridge** Brunswick** Collins* Colquitt Doerun Donalsonville Douglas* Fort Valley
(2 locations)
Bancroft Blackfoot Bruneau* Buhl Burley Caldwell Caldwell* Glenn Terminal** Glenns Ferry Hansen Idaho Falls Jerome Liberty Parma Pleasant Valley Roberts Rupert* Wendell
Air Ag Laurel Del* Milford Seaford Seaford** Seaford D.C. Smyrna
Illinois
(91 locations)
f Florida
(17 locations)
Greensboro Jesup Leesburg* Meigs Millen Moultrie (2 locations) Oglethorpe Swainsboro

(2 locations)
Arcadia* Belle Glade Boynton Beach
Sylvania* (2 locations) Sylvester` Tifton** Wadley*
Alexis* Amboy Atlanta** Baileyville Biggsville Blandinsville Browns Buffalo Prairie* Camp Point Catlin Clay City Columbus* Compton*
* ** D.C.
Satellites Terminals Distribution Center
11

(August, 2009)
i Illinois (contd)
Danville** Dixon Douglas* Dwight Edgewood Fairbury Ferris Fieldon Flora Forreston* Fountain Creek Galesburg* Golden* Greenfield Greenview Hallock* Harvel Hillview* Hoopeston Hull Iuka Joy* Keithsburg* Lanark Lodi* Louisville Marissa Marseilles** Mason City Mays Station Melvin Meredosia** Metcalf Morrisonville Mount Erie
(2 locations)
i Illinois (contd)
Nokomis Oakland Odell* Olive Branch* Onarga Oneida Oquawka** Paris* Paxton Payson Pittsfield Pleasant Hill Pontiac* Quincy** Rankin Richmond Rio* Ruma* Saunemin Sciota* Shabbona* Sheldon Sidney Sinclair Steward Stolletown Strawn* Toledo* Viola Walsh* Wenona White Hall Wine Hill*
i Indiana (contd)
Charlottesville Clarks Hill College Corner Converse Dana Decker Delphi Deputy* Fairmount Franklin Fulton Greensburg Greentown Homer Jasper Kitchell Kitchell** Kitchell D.C. Ladoga Miami Middle Fork Mooresville Mt Vernon** Mulberry New Brunswick New Salem North Grove North Salem Oaktown Odon* Otwell Peru Point Isabel* Poneto** Poseyville Roachdale Roachdale** Scottsburg Shelburn Speedway** Straughn Switz City Terre Haute D.C. Veedersburg
i Indiana (contd)
Walton** Warren Washington West Lebanon Wheatland Williamsburg Williamsport*
i Iowa (contd)
Ogden* Oskaloosa Oskaloosa* Petersburg* Preston Reinbeck Sac City* Saint Ansgar* St. Anthony* Union* Wall Lake Washington* Whiting Winthrop Worthington Wyoming
Iowa
(50 locations)
Indiana
(59 locations)
Mt Carmel Mt Sterling Neoga New Boston New Canton* New Memphis Newton** Niota** (2 locations)
Arcadia Attica Black Hawk Boston* Brimfield Brookville Buck Creek* Chalmers
Albion* Atalissa Bangor Battle Creek Boone Brayton* Breda Coin Colo* Corning Creston Danbury Dubuque** Dunlap Dyersville Edgewood Garnavillo Gibson Hancock Holy Cross* Hopkinton Ida Grove Irvington Keswick Kiron* Lowden* Luverne Manchester Mediapolis Mingo Monticello N English* Nevada* Odebolt
k Kansas
(46 locations)
Beloit Belpre Brewster* Burton* Cimarron Clay Center Concordia Copeland Country Store Courtland* Downs Galva Garden City Garden City** Garden City D.C. Gaylord* Goddard Goodland (2 locations) Goodland* Grainfield** Greensburg* Halstead* Hill City
* ** D.C.
12

(August, 2009)
k Kansas (contd)
Hoxie Hunter Jetmore Kinsley Leoti Lincoln* Macksville** Mahaska Minneapolis Montezuma Morganville* Nickerson* Oakley Oberlin Plains Pratt Republic Scott City Scott City** Seguin** Sublette* Wakeeney
k Kentucky (contd)
Slaughters* Waverly
m Maryland
(11 locations)
m Michigan (contd)
Sandusky Sparta St Johns St Louis** Sunfield** Ubly Webberville** Woodbury
m Mississippi (contd)
Clarksdale Columbus** Glen Allan* Greenville** Greenwood Grenada* Hollandale* Holly Bluff Holly Springs* Houston Indianola* Leland Macon* New Albany* Rolling Fork Scott* Tunica
l Louisiana
(28 locations)
Kentucky
(21 locations)
Anton Cadiz Calhoun Clarkson Clay Fancy Farm Hardin Henderson Henderson** Hodgenville Horse Cave Kevil Ky* Lexington Morganfield Murray** Pembroke Poole Russellville Sedalia
Alexandria Bonita* Bunkie* Delhi Donaldsonville** Elton Jonesville Lafayette** Lake Arthur* Lake Providence Lettsworth** Loreauville** Mansura** Mer Rouge Mermentau** New Roads Opelousas* Pioneer* Rayville Saint Martinville** Schriever* Tallulah Thibodaux Vick* Ville Platte* Waterproof* Whitevile Wisner
Baltimore** Boonsboro* Centreville Denton E New Market Girdletree Linthicum Heights Massey Pocomoke Snow Hill Worton
Minnesota
(23 locations)
Massachusetts
(2 locations)
South Deerfield Sterling
Michigan
(34 locations)
m Maine
(2 locations)
Lewiston Mapleton
Ann Arbor Bear Lake Benton Harbor Blissfield (2 locations) Blissfield** Breckenridge D.C. Brown City Deckerville* Freeland Greenville Henderson Melvin Mendon Morenci Munger Muskegon** Northern Bay Nottawa Owendale Owosso Pinconning* Portland Saginaw** (2 locations) Saline
Ada Alden Atlanta* Big Lake Clarks Grove Crookston Dassel East Chain Hallock Harmony Kasota Kerkhoven Lakefield Mora Perham Pipestone Plainview Red Lake Falls Sargeant Sauk Centre Slayton Wadena Winthrop
Missouri
(21 locations)
Atlanta* Bowling Green

(2 locations)
Mississippi
(24 locations)
Anguilla* Batesville Belzoni Benoit* Benton* Bolton* Boyle
Cardwell Caruthersville** Clarence Cooter Essex* Harrisonville Holden* Hornersville* La Plata Palmyra Paris Perry Portageville Senath Sikeston (2 locations) Westboro Whiteoak*
* ** D.C.
13

(August, 2009)
m Montana
(8 locations)
n New York
(13 locations)
n North Carolina
(contd)
o Ohio
(45 locations)
o Ohio (contd)
West Manchester
Belgrade Billings Chinook Fairview Gildford* Glasgow Great Falls Shelby
n Nebraska
(14 locations)
Amenia Avon Brookhaven Cohocton Fancher Florida Hall* Lockport Milton Mount Morris* Nelliston* Oswego** Sodus
Allen* Ashland Beatrice Beemer Bridgeport Chester* Fremont Imperial Johnson Kearney Laurel Mccook South Sioux City Thurston
North Carolina
(55 locations)
Nevada
(2 locations)
Henderson Reno
New Jersey
(4 locations)
Elmer Jutland Malaga North Brunswick
New Mexico
(2 locations)
Artesia Vado
* ** D.C. Satellites Terminals Distribution Center
Albertson Bailey* Belgrade Belhaven Brown Summit Bunn Clinton (2 locations) Conway Creswell Dunn Elizabeth City Enfield Erwin Fairfield Fairmont Faro/Fremont Four Oaks Greenville Hendersonville Hookerton** Jefferson Laurinburg Lumberton (2 locations) Millingport Monroe (2 locations) Murfreesboro Nashville Newland Norwood
Pantego Plymouth** Princeton Red Oak** Red Springs Rocky Mount Roseboro* Salemburg Sanford Shawboro Shelby (Lattimore) Snow Hill Sophia Statesville Tarboro D.C. Trenton Vanceboro* Washington Wilmington (2 locations) Wilson Wilson** Yadkinville
Ansonia Ashville Attica Bainbridge Bellevue Boston* Botkins Bradford Campbellstown Cincinnati**
(4 locations)
Oklahoma
(9 locations)
North Dakota
(19 locations)
Bismarck Bowman Cavalier Devils Lake Dickinson Drayton Glenfield Grace City Grafton Grand Forks Hatton Hillsboro Jamestown Langdon Mapleton Minot Prosper* Wahpeton Williston
Circleville* Columbus Delphos Dunkirk Eaton* Fayette Findlay Frankfort Greenville Hamler Hillsboro Holgate* Jeffersonville Kirkwood Leesburg Leipsic Midland Morral** Mowrystown Mt Gilead Mt Sterling** Mt Sterling D.C. New Holland Ottawa Ottawa** Ottoville* Polk Thurston Toledo** Unionville Urbana* Washington Court House**
Altus Chattanooga* Clinton Guymon Hough Oklahoma City Tyrone Webbers Falls Yukon
Oregon
(15 locations)
Athena Baker City* Ballston* Carlton* Cornelius Gresham Hermiston* Hopmere Hubbard* La Grande N. Powder* Rickreall Salem Tangent Umatilla*
p Pennsylvania
(8 locations)
Belleville* Biglerville Butler Holtwood King Of Prussia* Lewistown* Tyrone Washingtonville
14

(August, 2009)
s South Carolina
(13 locations)
t Texas
(65 locations)
t Texas (contd)
Roaring Springs* Roby* Roscoe Rosebud Rosebud* San Antonio* Santa Rosa Slaton Snyder* Stowell* Sudan* Taft Tam Anne Taylor Tyler* Uvalde Veribest Victoria* Waco* Wall* Wellington West
v Virginia (contd)
Crystal Hill Eastville Haynesville Heathsville* Hopewell Ivor Keller Milford* Mt Holly* Petersburg** Red House Sealston South Hill Winchester Wylliesburg
w Wisconsin
(6 locations)
Aynor Bishopville Cope* Darlington Darlington D.C. Hemingway Hollywood* Kingstree Lake City Luray* Orangeburg Orangeburg** Starr
South Dakota
(4 locations)
Brookings Northville Spearfish Watertown
t Tennessee
(17 locations)
Bells Brownsville Clarksville Covington Ethridge Huntingdon Manchester Memphis** Nutbush Gin* Palmersville Puryear* Springfield Union City Union City** Union City D.C. Whiteville Wynnburg
Avoca* Blessing* Brownfield Caldwell Colorado City* Cotton Center De Leon Denver City Dumas Eden* El Campo Elgin Elgin* Fieldton Garden City* Gatesville* Harlingen* Haskell* Hearne* Heidenheimer* Hereford Houston Irving Knippa Knott Knox City Liberty Littlefield* Lorenzo* Lubbock Lubbock* Mathis* Menard* Midkiff* Midland* Munday* O Brien* Paris Pittsburg Plainview Ralls* Raywood Raywood*
Central Sands* De Forest Galesville Janesville Plainfield Randolph*
w Washington
(24 locations)
u Utah
(1 location)
Tremonton*
v Vermont
(1 location)
Addison
Virginia
(22 locations)
Abingdon Aylett Chase City Chatham Chesapeake**

(2 locations)
Colonial Heights
Almira Anatone* Auburn Clyde* Connell Coulee City Davenport Endicott George Glade Harrington Lamont* Mansfield Moses Lake Othello Pasco Plymouth Pomeroy Reardan* Rosalia St. John Toppenish Walla Walla Waterville
* ** D.C.
15
Agrium Retail Locations
Alaska
Un ite dS tat Ca es na da
Yukon Northwest Territories
Nunavut
Labrador British Columbia Alberta NL.
Saskatchewan
Manitoba Ontario Quebec NB
PE NS Maine
Canada Washington United States Montana Oregon Idaho Wyoming Nevada Utah Colorado California Arizona Hawaii Texas Mexico Florida New Mexico Oklahoma Arkansas MS LA Georgia Alabama Kansas North Dakota Wisconsin South Dakota Minnesota NY MI PA Nebraska Iowa Illinois Missouri Kentucky Tennessee IN Ohio WV Virginia North Carolina South Carolina NJ MD Del.
NH VT MA CT RI
Crop Production Services (CPS) branches
16
Selected Competitors United States Retail Companies - Top 15

(by Total Sales)
Rank Company
# Retail outlets
Type
HQ State
# States Served
% % Crop Fertilizer Protection Sales Sales
% Seed Sales
% Custom App.
1 Agrium Inc. Retail 2 Helena Chemical 3 Wilbur-Ellis Company 4 J.R. Simplot Company Retail 5 GROWMARK Inc. 6 Agriliance LLC. 7 Southern States Cooperative 8 MFA Incorporated 9 Jimmy Sanders Inc. 10 Harvest Land Cooperative 11 Tennessee Farmers Cooperative 12 South Dakota Wheat Growers 13 The McGregor Company 14 Effingham Equity Cooperative Union Exchange 15 Miles Farm Supply, LLC.
929 301 132 109 300 100 224 135 40 60 153 34 41
Dealership Dealership Dealership Dealership Cooperative Cooperative Cooperative Cooperative Dealership Cooperative Cooperative Cooperative Dealership
CO TN CA ID IL MN VA MO MS IN TN SD WA IL KY
45 48 18 18 17 19 10 4 4 2 5 2 3 1 3
49% 41% 49% 49% 43% 31% 65% 64% 36% 50% 56% 59% 61% 63% 54%
38% 41% 42% 34% 43% 39% 17% 18% 38% 34% 19% 20% 30% 18% 31%
8% 15% 4% 11% 7% 12% 14% 14% 25% 15% 22% 16% 7% 13% 12%
5% 3% 5% 6% 7% 18% 4% 4% 1% 1% 3% 5% 2% 6% 3%
12 Cooperative 21 Cooperative
Source: CROP LIFE Magazines Annual Top 100 Retailers in the United States, December 2008.
17
Agrium Wholesale: Leading Global Supplier

Our Wholesale division is one of the worlds largest fertilizer distributors, marketing approximately 8.5 million tonnes of nitrogen, potash, phosphates and secondary nutrients annually. Our products are predominately produced by 13 strategically located production facilities and marketed around the world. Agriums Wholesale division manufactures, markets, and distributes three primary nutrients: nitrogen, phosphate, and potash. We service our customers through a network of over 100 distribution warehouses, supplied by 13 production facilities. Our strengths include a low cost-in-market position, the ability to leverage distribution, a focus on continued incremental expansion at key facilities and growth in new product sales and product offerings.
Nitrogen (N)
Facilities strategically located in Canada and the United States combined annual capacity of over 5.0 million tonnes Competitive advantages of lowercost Argentina, Egypt, and Alberta gas as well as a close proximity to key markets
Phosphate (P)
Two phosphate plants, combined annual capacity of approximately 1.0 million tonnes Delivered cost advantage in Western Canada and North Western United States markets Integrated mining and production, access to low-cost sulphur and sulphuric acid.
Potassium (K)
Current capacity of over 2.0 million product tonnes Market internationally through Canpotex
Agrium Products Fertilizer:

Ammonium Phosphate Sulphate Anhydrous Ammonia Aqua Ammonia Calcium Ammonium Nitrate (CAN 17) Merchant Grade Phosphoric Acid (MGA) Ammonium Nitrate Ammonium Sulphate Anhydrous Ammonia Aqua Ammonia Ammonium Polyphosphate Monoammonium Phosphate (MAP) Muriate of Potash Nitrogen Solutions Super Phosphoric Acid (SPA) Urea Merchant Grade Phosphoric Acid (MGA) Muriate of Potash Nitric Acid, 42 and 38 Baume Urea Ammonium Nitrate Urea Vanox
Industrial:
18
Agrium Wholesale Owned Distribution Facilities Canada

Location Bloom, Manitoba Carseland, Alberta Clavet, Saskatachewan Ft.Macleod, Alberta Ft. Saskachewan, Alberta Granum, Alberta Kamloops, British Columbia Redwater, Alberta Roma Junction, Alberta Standard, Alberta Vanscoy, Saskatchewan Watson, Saskatchewan Total Distribution Storage in Canada
Dry 50,000 50,000 63,500 17,000 65,000
Ammonia 27,000 36,000
Specialty(1)
Total 77,000 108,000 97,800 17,000 101,000 13,250 1,715 332,000 170 21,250 284,500 47,200 1,100,885
22,000 34,300
36,000 13,250 1,715 10,000 21,250
245,000
77,000 170 34,500 27,000 237,670
250,000
20,200 122,715
740,500
(1) Specialty includes solutions and specialty products. Source: Agrium
19
Agrium Wholesale Owned Distribution Facilities(1) United States

Location Americus, Georgia Bainbridge, Georgia Borger, Texas Burley, Idaho Conda, Idaho Early, Iowa Florence, Alabama Garner, Iowa Glade, Washington Hartsville, South Carolina Hoag, Nebraska Homestead, Nebraska Kennewick, Washington Leal, North Dakota Lynchburg, Virginia Marseilles, Illinois Meredosia, Illinois Mt. Vernon, Indiana Newton, Illinois Niota, Illinois North Bend, Ohio Paducah, Kentucky Tifton, Georgia West Sacramento, California Wilmington, North Carolina Total Distribution in the United States
Dry 24,900 18,142 15,965 7,801 54,426 15,200
Ammonia
Specialty(2)
Total 24,900 36,406 16,865 7,801 55,117 65,992 15,200 114 16,100 14,800 17,398 27,213 164,927 36,556 9,074 70,849 45,809 62,590 8,527 26,625 44,373 12,699 16,328 95,877 30,116 922,256
18,264 900 691 65,992 114
16,100 14,800 17,398 27,213 30,000 9,074 5,443 49,891 26,625 17,241 19,049 36,556 34,383 15,149 115,878
31,023 30,660 12,699 8,527 18,058 12,699 29,360
9,074 16,328 29,030 30,116 373,503
37,487
271,585
277,168
(1) Agrium has Retail storage of 1.11 mm tonnes dry product, 145 K tonnes of ammonia and 1.06 mm tonnes of specialty product. (2) Specialty includes solutions and specialty products. Source: Agrium
20
Agrium Production and Distribution Locations
Alaska
Nunavut
Labrador British Columbia Roma Alberta Calgary Carseland Kamloops Redwater Fort Saskatchewan Joffre Standard PE Ontario Kapuskasing Quebec NB NS Maine NH Wisconsin Minnesota NY MI VT MA CT RI NL.
Manitoba Saskatchewan Watson Clavet Granum Vanscoy Bloom Ft. Macleod Canada United States Montana North Dakota Leal South Dakota
Washington Kennewick Oregon Idaho Conda Nevada West Sacramento California Arizona Utah
Wyoming
Denver Colorado
Nebraska Homestead
New Mexico
NJ Garner PA Marseilles Early Iowa MD Del. Ohio Niota Illinois Newton North Bend IN WV Meredosia Virginia Missouri Lynchburg Kansas Mt. Vernon Kentucky Paducah North Carolina Wilmington Tennessee Oklahoma Arkansas South Hartsville Florence Georgia Carolina Borger Americus MS Alabama Tifton LA Bainbridge Texas Florida
Mexico
Nitrogen Production Facility Solution Production Facility Phosphate Production Facility Phosphate Mine Potash Production Facility Potash Mine Granulation Production Facility
Anhydrous Ammonia Storage Solution Storage Dry Storage Blend Storage Engro Distribution Ammonia Pipeline System Corporate/Wholesale Head Office United States Sales Office
21
Competitors 2009 Ammonia Plant Capacities and Locations

(000 metric nutrient tonnes per year)
Company
Site Carseland, Alberta Ft. Saskatchewan, Alberta Joffre, Alberta Redwater, Alberta Medicine Hat, Alberta Brandon Manitoba Belle Plaine, Saskatchewan Ft. Saskatchewan, Alberta Courtright Ontario
Capacity of NH3 Product 439 381 394 787 902 353 531 130 394 4,311
Canada
Agrium Inc Agrium Inc Agrium Inc Agrium Inc Canadian Fertilizer ltd. Koch Fertilizer Canada Inc. Yara Belle Plaine Inc.
(formerly Saskaferco Products Inc.)
Sherritt International Inc. Terra Industries Inc. Total Canada
United States
Agrium U.S. Inc. CF Industries Holdings Inc. Coffeyville Res. Dakota Gasification Company Dyno Nobel Dyno Nobel Green Valley Chemical Honeywell International Koch Industries Inc. Koch Industries Inc. Koch Industries Inc. Koch Industries Inc. LSB Industries The Mosaic Company Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Renetech Inc Terra Industries Inc. Terra Industries Inc. Terra Industries Inc. Terra Industries Inc. Terra Industries Inc.
Borger, Texas Donaldsonville, Louisiana Coffeyville, Kansas Beulah, North Dakota Cheyenne, Wyoming St. Helens, Oregon Creston, Iowa Hopewell, Virginia Beatrice, Nebraska Dodge City, Kansas Enid, Oklahoma Fort Dodge, Iowa Cherokee, Alabama Faustina, Louisiana Augusta, Georgia Lima, Ohio E. Dubuque, Illinois Donaldsonville, Louisiana Port Neal, Iowa Verdigris, Oklahoma Yazoo City, Mississippi Woodward, Oklahoma
402 1,711 320 291 146 83 26 435 217 230 818 287 130 410 564 482 228 373 275 781 372 328 8,909 13,220
Total United States Total Canada and United States
Source: IFDC Worldwide Ammonia Capacity Listing by Plant, June 2009.
22
Competitors 2009 Urea Plant Capacities and Locations

Company
Site
IFDC Capacity(1)(2)
(Includes Urea Melt)
Blue Johnson Capacity(2)

(Solid Urea)
Canada
Agrium Inc. Agrium Inc. Agrium Inc. Canadian Fertilizer Dyno Nobel Nitrogen Koch Fertilizer Canada Inc. Yara Belle Plaine Inc.
(formerly Saskaferco Products Inc.)
Carseland, Alberta Ft. Saskatchewan, Alberta Redwater, Alberta Medicine Hat, Alberta Maitland, Ontario Brandon, Manitoba Belle Plaine, Saskatchewan Courtright, ON
312 198 331 338 4 129 445 117 1,767
312 198 331 307 129 453 119 1,826 46 983 100 42 56 29 38 232 79 240 167 184 54 134 284 81 50 2,798 4,624
Terra Industries Inc. Total Canada
United States
Agrium U.S. Inc. CF Industries Holdings Ltd. Coffeyville Res. Dyno Nobel Dyno Nobel Koch Industries Inc. Koch Industries Inc. Koch Industries Inc. Koch Industries Inc. LSB Industries Inc. Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Rentech Inc. Terra Industries Inc. Terra Industries Inc. Terra Industries Inc. Terra Industries Inc.
Borger, Texas Donaldsville, Louisana Coffeyville, Kansas Cheyenne, Wyoming St. Helens, Oregon Beatrice, Nebraska Dodge City, Kansas Enid, Oklahoma Fort Dodge, Iowa Cherokee, Alabama Augusta, Georgia Geismar, Louisana Lima, Ohio E. Dubuque, Illnois Port Neal, Iowa Verdigris, Oklahoma Yazoo City, Missouri Woodward, Oklahoma
46 1,070 157 44 52 29 38 231 79 100 230 171 188 61 128 279 82 53 3,038 4,805
(1) IFDC includes CRU production capacity. (2) Agrium capacities are sourced from Agrium. Source: IFDC Worldwide Urea Capacity Listing by Plant, June 2009. Blue & Johnson, The Sheet May 2009. Agrium
23
Competitors 2009 Granular Ammonium Phosphates Plant Capacities and Locations

Company
Site Redwater, Alberta (MAP)
IFDC Capacity(1) 343 343
Canada
Total Canada
Agrium Inc.
United States
Agrifos Fertilizer, LP Agrium U.S. Inc. CF Industries Holdings Inc. J.R. Simplot Company J.R. Simplot Company Mississippi Phosphates Corp. The Mosaic Company The Mosaic Company The Mosaic Company The Mosaic Company Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan
Pasadena, Texas (DAP) Conda, Idaho (MAP) Plant City, Florida (DAP) Pocatello, Idaho Rock Springs, Wyoming Pascagoula, Mississippi (DAP) Bartow, Florida (DAP) Tampa, Florida (DAP) Faustina, Louisiana (DAP) New Wales, Florida (DAP) Aurora, North Carolina (DAP) White Springs, Florida (DAP)
227 156 998 191 186 362 954 785 835 1,669 574 327 7,264 7,607
(1) Agrium capacities are sourced from Agrium. Source: IFDC Worldwide DAP and MAP Capactity listing by Plant, June 2009. Agrium
24
Competitors 2009 Muriate of Potash Capacities

Company
Site Vanscoy, Saskatchewan Belle Plaine, Saskatchewan Colonsay, Saskatchewan Esterhazy, Saskatchewan Allan, Saskatchewan Cory, Saskatchewan Lanigan, Saskatchewan Patience Lake, Saskatchewan Penobsquis (Sussex), New Brunswick Rocanville, Saskatchewan
IFDC Capacity(1) 1,230 1,720 1,098 3,040 1,150 830 2,335 630 479 1,857 14,369
Canada
Agrium Inc. The Mosaic Company The Mosaic Company The Mosaic Company Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan Potash Corporation of Saskatchewan
Total Canada
United States
Intreprid Potash Intreprid Potash Intreprid Potash Intreprid Potash The Mosaic Company
Carlsbad, New Mexico (East) Lea County, New Mexico (West) Moab, Utah Wendover, Utah Carlsbad, New Mexico
272 279 99 65 500 1,215 15,584
(1) Agrium capacities are sourced from Agrium. Source: IFDC Worldwide Potash Capacity Listing by Plant, June 2009. Annual Company Reports. Agrium
25
Selected Competitors Annual Capacity

N 2,352
P 907
K -
CF Industries Holdings Inc.

Public company, traded on the New York Stock Exchange, under the ticker CF(1) FY2008 EBITDA: $1,255 ($ millions) Website address: www.cfindustries.com Headquarters: Deerfield, Illinois, United States Plants located in: United States, Canada 500 4,400 6,240(7)
The Mosaic Company

Public company, traded on the New York Stock Exchange, under the ticker MOS(1) FY2008(2) EBITDA: $3,210 ($ millions) Website address: www.mosaicco.com Headquarters: Plymouth, Minnesota, United States Plants located in: United States, Canada, Brazil, Argentina, China, Australia, Thailand, Vietnam, India, Mexico The company is a result of the merger of IMC Global and Cargill Crop Protection 2,852
(1)
Potash Corporation of Saskatchewan

2,431(3)
9,153(4)
Public company, traded on the New York Stock Exchange, under the tick POT FY2008 EBITDA: $4,607 ($ millions) Website address: www.potashcorp.com Headquarters: Saskatoon, Saskatchewan, Canada Plants located in: Canada, United States, Trinidad
Terra Industries Inc.

3,206(5)
(1)
Public Company, traded on the New York Stock Exchange, under the ticker TRA FY2008 EBITDA: $853 ($ millions) Website address: www.terraindustries.com Headquarters: Sioux City, Iowa, United States Plants located in: United States, Canada, Trinidad Acquired Mississippi Chemical for $268 million in 2004
Yara International ASA

6,560(6)
(1)
300(6)
Public company, traded on the Oslo Stock Exchange, under the ticker YAR FY2008 EBITDA: $2,147 ($ millions) Website address: www.yara.com Headquarters: Oslo, Norway Plants located in: Norway, Sweden, France, Germany, Netherlands, Italy, Trinidad, Brazil, Canada Previously called Hydro Agri, which was a part of Norsk Hydro until March 2004
(1) (2) (3) (4)
The major stock exchange is listed, some companies listed on multiple stock exchanges. Year ended May 31. Includes Potash Corporation of Saskatchewans interest in ICL (11 percent). Includes Potash Corporation of Saskatchewans interest in Arab Potash Co. (28 percent), Israel Chemicals Ltd. (11 percent), Sociedad Qumica Y Minera de Chile S.A.(32 percent), Sinofert Holdings Ltd. (22 percent) and the volumes received under tolling agreement with Mosaic. (5) Includes Terra Industries Inc. interest in Point Lisas Nitrogen Ltd. (50 percent) and Kemira GrowHow UK Ltd. (50 percent). (6) Includes Yaras joint venture share of capacity in Le Havre (47.85 percent), Point Lisas (49 percent), Ince (50 percent), Billingham (50 percent), Qafco (25 percent), Lifeco (50 percent), Rossoh (30 percent), Burrup (30 percent). (7) Mosaics annual potassium capacity does not include product produced at Esterhazy and sold to Potash Corporation of Saskatchewan under a tolling agreement. Source: IFDC Worldwide Plant Capacity Report for Ammonia, Phosphoric Acid, and Potash, June 2009; www.capitaliq.com, A Division of Standard and Poors, Agrium., Company Annual Reports.
26
Agrium Advanced Technologies: Embracing the Future

Our Advanced Technologies division is a leader in developing and supplying environmentally friendly nutrient products and other products for the home and garden, turf, and the golf course market. Agrium is one of the worlds premier developers and manufacturers of controlled-release fertilizers. Agriums brands: XCU, Polyon, Nitroform, Nutralene, and Duration CR, are marketed primarily into the specialty turf and horticulture markets. Agrium markets controlled-release fertilizer, ESN, into the commodity agriculture market. ESN is Agriums patented-process controlled release nitrogen product, the first product of its kind marketed for use in commodity agriculture. Controlled-release fertilizers release nutrients as the plants require increasing the efficiency of fertilizer use while benefiting the environment.
Products
Slow-Release Fertilizer
Slow-Release Fertilizer
Specialty Fertilizers
ESN Duration Nutralene Nitroform
Polyon Precise XCU
Micronutrients
AgriMag Broadman20 EZ20 Nubor10 UltraYield
Annual Production Capacities by Product

Production Capacity
(by product types)
ESN Duration Nutralene XCU Nitroform Polyon Precise Total All Product Types (1)
200,000 40,000 20,000 105,000 26,000 93,850 1,275 486,125

Micronutrients and NPKs

Reese Facility 50,000
(1)
All Product Types include ESN, Duration, Nutralene, XCU, Nitroform, Polyon, and Precise.
27
Agrium Advanced Technologies - ESN Features, Advantages and Benefits

ESN is the only controlled release nitrogen source widely available in agriculture, providing growers with a return on investment through increased nitrogen efficiency. Audience Growers Features Advantages Benets Per acre yield increases of 15-20 bu/acre in corn, 8 - 10 percent in Canola, and 5 - 10 percent in Wheat when applied to the appropriate acres. Up to 1.5 percent increase in cereal protein and increased quality in Potatoes and other crops. Less applications required with a larger window. Coating protects product while in storage and works with all conventional equipment. Apply up to 3x the typical safe rate of urea. Vitrually eliminate N loss to the environment, protecting the growers N investment while receiving goverbnment support through use incentives. University and government research over multiple years, geographies, and crops instills condence in benet claims. Color instills condence in the grower and lets them know they got what they paid for.
Controlled Release Yield Enhancements Nitrogen (N) Benets Protein/Quality Improvements Timing/Convenience
Seed Safety Environmentally Friendly
Backed by Independent Research Color
Condence
Condence
28
Agrium Advanced Technologies Production and Distribution Locations
Alaska
Nunavut
Labrador British Columbia Alberta NL.
Saskatchewan Carseland Canada Washington Kennewick Oregon Idaho United States Montana
Manitoba Ontario Portage La Prairie Maine North Humboldt Dakota Minneapolis Colfax Wisconsin Quebec NB
PE NS
Nevada Utah
California Arizona
NH VT Brighton MA NY Saginaw Brantford CT RI Minnesota South MI Putnam Dakota Reese Courtright Wyoming NJ Burns Harbor PA Sioux City Garrett Toledo Lewistown Danville Iowa MD Del. Nebraska Ohio Illinois IN Homestead WV Loveland Virginia Missouri Mt. Vernon Kansas Colorado Kentucky New Madrid North Wilmington Carolina Tennessee Union City Oklahoma Arkansas South New Sylacauga Carolina Mexico Georgia MS Alabama Bainbridge LA Texas Florida
Mexico
Production Facility Storage Facility Product Innovation Regional Office Head Office
29
Selected Competitors Agrotain International L.L.C.

Subsidiary of Lange-Stegmann Co., a privately held company Website address: www.agrotain.com Headquarters: St. Louis, Missouri Facilities located in: North America.
Products N Stabilizers Agrotain, Agrotain Plus, Super N Concentrate (Urease Inhibitors + Nitrification Inhibitors) HYDREXX (Urease Inhibitor + Nitrification Inhibitor) Stabilized Nitrogen Fertilizers UMAXX UFLEXX Super U
Chisso Asahi Fertilizer Company Ltd.

Private Company Website address: www.chisso.co.jp/english Facilities located in: Japan
Products U.S. Market (Primarily through Helena Chemical Co.) Nutricote (PCF) Meister (PCU) UBER (CDU) Japanese Market: Phoska Line (CDU) Long, Ecolong, Hi-Control, LP Coat (PCF)

Haifa Chemicals Ltd.

Private Company, owned by Trans Resources Inc. Website address: www.haifachem.com Headquarters: Haifa Bay, Israel Facilities located in: Israel and France
Products Coated Products Multicote (PCU and PC - NPK) Cote N (PCU) Poly-Feed Multi-K Urea Reaction Hi-Green (MU-based NPK)
Lebanon Seaboard Corporation

Private Company Website address: www.lebanonturf.com Headquarters: Lebanon, Pennsylvania Facilities located in: North America
Products Urea Reaction Meth-Ex 40 (methylene urea used in brand name products MESA and EXPO Coated Products Poly-X Pro (purchased PCSCU) Brand Name Blended Products Country Club, Lebanon Pro, IsoTec, Par Ex, Proscape, Greenskeeper Planting Products Woodace Tablets

30
Selected Competitors Sadepan Chimica S.r.l

Private Company (division of the Saviola Group) Website address: www.grupposaviola.com/sadepanc Headquarters: Mantova, Italy Facilities located in: Italy and Belgium
Products Sazolene Products (liquid and granular methylene urea products) Sirflor N38 and Sirflor Plus (Granular ureaform)

The Scotts Miracle-Gro Company

Public company, traded on the the New York Stock Exchange, under the ticker SMG Website address: www.scotts.com Headquarters: Marysville, Ohio Facilities located in: North America FY2008(1) EBITDA: 318 ($ millions) Divisions: The Scotts Company LLC, Scotts Pro Lawn Service, Smith and Hawken(2), Ortho, Scotts Canada Ltd., plus a variety of European subsidiaries.
Products Coated Products: Poly-S (PCSCU) ScottKote (PCU) Osmocote (PC NPK) Others: Turf Builder Osmoform Miracle Gro, Scotts, Hypones, Earthgro, SuperSoil, Bug-B-Gone, Weed-B-Gone and Roundup Planting Products (Horticulture) Agriform
Turf Care Supply Corporation

Private Company (Owned by Platinum Equity) Website address: www.turfcaresupply.com Headquarters: Brunswick, Ohio Facilities located in: United States
Products Marketed Products: Growstar Line: line of turf-related blended and homogenous products including Palm and Tropical Fertilizer; Polymer Coated Sulfur Coated Urea; Professional Turf Fertilizer; Sulfur Coated Sulfate of Potash with Fe and Mn; Weed and Feed. Private Label Production: Poly-Plus (PCSCU for JDL / Lesco) Novex (NPK and NK with MU for JDL / Lesco)

(1) Fiscal end September 30. (2) Smith and Hawken Operations will be closed by end of 2009. Source: Agrium
31
Agricultural Statistics Crops: Area, Production and Stocks - United States

(million bushels and million acres)
Area Planted
Area Harvested
Yield
(bu/ac)
Prod.
Total Use
Ending Stocks
Stocks to Use Ratio
Avg. Farm Price

($/bu)
Wheat
(CY)
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04
59.8 63.1 60.5 57.3 57.2 59.7 62.1
50.4 55.7 51.0 46.8 50.1 50.0 53.1
43.3 44.9 40.2 38.7 42.0 43.2 44.2
2,184 2,500 2,051 1,812 2,105 2,158 2,345
2,218 2,265 2,314 2,049 2,155 2,235 2,353
743 667 306 456 571 540 546
33% 29% 13% 22% 26% 24% 23%
5.20 6.78 6.48 4.26 3.42 3.40 3.40
Soybeans
(CY)
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04
77.7 75.7 64.7 75.5 72.0 75.2 73.4
76.8 74.6 64.1 74.6 71.3 74.0 72.5
41.7 39.6 41.7 42.7 43.0 42.2 33.9
3,199 2,959 2,677 3,188 3,063 3,124 2,454
3,109 3,069 3,056 3,073 2,873 2,986 2,525
210 110 205 574 449 256 112
7% 4% 7% 19% 16% 9% 4%
9.40 10.00 10.10 6.43 5.66 5.74 7.34
CY (e) (p) Source:
Crop Year estimated projected USDA- WASDE-472-12, August 12, 2009.
32
Agricultural Statistics Corn Supply and Use - United States

(million bushels and million acres)
Year
Begin Area Area Yield Stocks Planted Harvested (bu/ac) 1,720 1,624 1,304 1,967 2,114 958 1,087 1,596 1,899 1,718 1,787 1,308 883 426 1,558 850 2,113 87 86 94 78 82 81 79 79 76 80 77 80 80 80 71 79 79 80 79 87 71 75 74 71 69 69 72 71 73 73 73 65 73 72 160 154 151 149 148 160 142 129 138 137 134 134 127 127 114 139 101
Total Prod. Supply(1) 12,761 12,101 13,038 10,535 11,114 11,807 10,089 8,967 9,507 9,915 9,431 9,759 9,207 9,293 7,374 10,103 6,336
Avg. Total Stocks Farm Dom End To Use Days Price Use Exports Stocks Ratio Supply ($/bu) 2,100 1,850 2,437 2,125 2,147 1,818 1,897 1,588 1,889 1,935 1,937 1,981 1,504 1,795 2,228 2,200 1,328 1,621 1,720 1,624 1,304 1,967 2,114 958 1,087 1,596 1,899 1,718 1,787 1,308 883 426 1,558 850 12.6% 14.3% 12.8% 11.6% 17.4% 19.8% 9.3% 11.4% 16.3% 19.5% 18.0% 19.2% 14.9% 9.9% 5.0% 16.5% 11.1% 46 52 47 42 64 72 34 42 59 71 66 70 54 36 18 60 41 3.50 4.05 4.20 3.04 2.00 2.06 2.42 2.32 1.97 1.85 1.82 1.94 2.30 2.70 3.24 2.26 2.50
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02 2000/01 1999/00 1998/99 1997/98 1996/97 1995/96 1994/95 1993/94
14,496 10,775 13,740 10,170 14,362 10,300 12,514 9,086 13,237 9,122 12,776 8,844 11,190 8,335 10,578 7,903 11,416 7,915 11,639 7,805 11,232 7,587 11,085 7,318 10,099 7,287 9,733 7,054 8,947 6,294 10,963 7,205 8,470 6,292
(1) (e) (p) Source:
Total Supply includes import volumes. estimated projected USDA-WASDE 472-12, August 12, 2009.
33
Agricultural Statistics Fertilizer Application Rates - United States

Years Ended June 30(1)
P 58 81% 47 43 67% 29 46 23% 11 31 85% 27 34 57% 19
K 83 65% 54 71 52% 37 80 25% 20 18 27% 5 48 17% 8
Total
Corn
lbs/acre % of area applied lbs applied/acre lbs/acre % of area applied lbs applied/acre lbs/acre % of area applied lbs applied/acre lbs/acre % of area applied lbs applied/acre lbs/acre % of area applied lbs applied/acre
137 96% 132 91 92% 84 17 18% 3 72 95% 68 64 80% 51
233
Cotton
150
Soybeans
34
Spring Wheat
100
Winter Wheat
78
(1) Corn and Cotton data are for the years 2005 and 2008, respectively. Soybeans, Spring Wheat and Winter Wheat data is for the year 2007. Source: Agricultural Chemical Usage Report, 2007 and 2008 Field Crops Summary. NASS, USDA.
34
Agricultural Statistics Nutrient Uptake and Removal by Field Crops - United States
(pound per acre)
P 2 O5
K2O
Corn
155 bu/acre
Uptake(1) Removal(2)
240 135
102 79
240 52
Soybeans
42 bu/acre
Uptake Removal
224 160
38 32
144 56
Cotton
830 lb/acre
Uptake Removal
160 54
48 24
140 34
(1) Total nutrient taken up by the crop. (2) Nutrient removed in harvested portion of the crop. Source: IPNI; Plant Food Uptake and Harvest Removal For Southern Crops, september 2009. USDA, WASDE, August 2009.
35
Agricultural Statistics Planted Area and Production by Crop - Western Canada Area(1)
(000 of acres)
2009(e) Winter Wheat Spring Wheat Durum Wheat Oats Barley Rye Flaxseed Canola Total Crops(1) Summer Fallow 1,867 17,485 5,580 3,879 8,778 325 1,720 15,825 55,459 5,890
2008 2,617 16,363 6,030 4,345 9,357 340 1,560 16,160 56,772 6,070
2007 1,587 15,215 4,815 5,408 10,865 305 1,305 14,726 54,226 7,710
2006 1,711 18,743 3,795 5,099 9,118 482 1,988 12,422 53,358 8,617
2005 405 17,582 5,785 4,125 10,290 350 2,080 13,485 54,102 10,160
2004 670 18,325 5,510 3,180 10,865 361 1,799 13,054 53,764 8,918
2003 561 18,283 6,135 5,184 11,715 356 1,841 11,626 55,701 8,913
2002 383 18,846 6,150 5,500 11,835 210 1,710 9,541 54,175 10,289
2001 489 20,324 5,350 4,339 10,761 331 1,690 9,410 52,694 11,641
Production
(000 of tonnes)
2009(e) Winter Wheat Spring Wheat Durum Wheat Oats Barley Rye Flaxseed Canola Total Crops(2) 2,945 16,150 4,519 2,967 8,948 267 915 9,541 46,254
2008 4,687 18,405 5,519 4,273 11,781 316 861 12,643 58,485
2007 2,499 13,873 3,681 4,696 10,984 233 634 8,751 45,351
2006 3,403 20,052 3,821 3,602 10,005 302 1,041 9,105 51,331
2005 469 18,407 5,915 3,028 11,664 302 1,082 9,609 50,476
2004 939 18,087 4,962 3,271 12,300 340 517 7,651 48,067
2003 751 16,075 4,280 3,255 11,396 263 754 6,604 43,378
2002 386 9,995 3,714 2,330 6,190 83 679 3,520 26,897
2001 441 16,405 3,055 2,454 10,320 136 702 5,021 38,534
(e) (1) (2) Source:
estimated Refers to seeded Area. Total crops includes total for major crops only. Field Crop Reporting Series, Catalogue no. 22-002X, Volume 88. No 4, Statistics Canada June 2009. Field Crop Reporting Series, Catalogue no. 22-002-X, Volume 88. No 5, Statistics Canada, July 2009.
36
Fertilizer Statistics Nutrient Uptake and Removal by Field Crops - Western Canada
(pound per acre)
P2O5
K2O
Spring Wheat
40 bu/acre (2690 kg/ha)
Uptake(1) Removal(2)
76-93 54-66
29-35 21-26
65-80 16-19
8-10 4-5
Barley
Uptake Removal
100-122 70-85
40-49 30-37
96-117 23-28
12-14 6-8
Canola
Uptake Removal
100-123 61-74
46-57 33-40
73-89 16-20
17-21 10-12
Flax
Uptake Removal
62-76 46-56
18-22 14-17
39-48 13-16
12-15 5-6
(1) Total nutrient taken up by the crop. (2) Nutrient removed in harvested portion of the crop. Source: CFI, February 2001.
37
Fertilizer Statistics Total Consumption of Fertilizers - North America

Year
Primary Nutrient Consumption P 2 O5 K20
Total
United States
2009(e) 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 10,886 11,612 11,930 10,929 11,195 11,819 10,970 10,895 10,464 11,189 11,296 11,170 11,206 11,162 10,631 11,470 10,335 10,384 10,239 10,048 3,393 3,946 4,355 4,064 4,209 4,377 3,892 4,200 3,862 3,913 3,859 4,187 4,184 4,107 4,014 4,102 4,024 3,826 3,811 3,942 2,948 4,355 4,627 4,286 4,695 5,008 4,491 4,519 4,469 4,510 4,494 4,809 4,921 4,770 4,652 4,779 4,664 4,574 4,537 4,720 17,228 19,913 20,912 19,279 20,099 21,204 19,353 19,614 18,795 19,612 19,649 20,166 20,311 20,039 19,297 20,351 19,023 18,784 18,587 18,710
(e) estimated Source: The Fertilizer Institute, US Nutrient Consumption 1960-2006. IFA, Fertilizer Consumption 2008/09-2013/14, Country Reports, June 2009. Canada: Canadian Fertilizer Information System, Western Retail Sales Statistics July 2008 to March 2009.
38
Fertilizer Statistics Total Consumption of Fertilizers - North America

Year
Total
Canada
2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02 2000/01 1999/00 1998/99 1997/98 1996/97 1995/96 1994/95 1993/94 1992/93 1991/92 1990/91 1,795 1,915 1,732 1,540 1,393 1,660 1,643 1,556 1,577 1,682 1,619 1,653 1,670 1,576 1,448 1,406 1,305 1,253 1,148 425 502 464 565 610 676 656 630 632 667 664 717 704 658 628 641 616 592 578 250 354 381 205 332 349 335 324 316 339 359 358 322 333 310 328 327 310 338 2,470 2,771 2,577 2,310 2,335 2,685 2,634 2,510 2,526 2,688 2,642 2,728 2,696 2,567 2,386 2,375 2,248 2,155 2,064
(1)
2006 to 2008 data are derived from fertilizer shipments to Canadian agriculture markets report. Data prior to 2006 was collected by Canadian Fertilizer Institute. Different coverage and reporting methods of the data will affect the comparability of the data. (e) estimated Source: Canadian Fertilizer Institute - Canadian Fertilizer Information System: Western Retail Sales Statistics July 2008 to March 2009.
39
Fertilizer Statistics Total Consumption of Fertilizers - Canada

Years Ending June 30 (000 metric nutrient tonnes per year)
Year
Total
Western Canada
2007/2008(1) 2006/2007 2005/2006 2004/2005 2003/2004 2002/2003 2001/2002 2000/2001 1999/2000 1998/1999 1997/1998 1996/1997 1995/1996 1,600 1,388 1,251 1,259 1,350 1,340 1,280 1,301 1,396 1,320 1,354 1,399 1,288 442 403 452 502 543 527 488 486 518 516 553 550 509 163 151 68 159 157 151 126 124 133 137 126 109 108 2,205 1,942 1,771 1,920 2,050 2,018 1,894 1,911 2,047 1,973 2,033 2,058 1,905
Eastern Canada
2007/2008(1) 2006/2007 2005/2006 2004/2005 2003/2004 2002/2003 2001/2002 2000/2001 1999/2000 1998/1999 1997/1998 1996/1997 1995/1996 315 344 289 134 310 303 276 276 286 299 299 271 288 60 61 113 108 133 129 142 146 149 148 164 154 149 191 230 137 173 192 184 198 192 206 222 232 213 225 566 635 539 415 635 616 616 614 641 669 695 638 662
(1)
2006 to 2008 data are derived from fertilizer shipments to Canadian agriculture markets report. Data prior to 2006 was collected by Canadian Fertilizer Institute. Different coverage and reporting methods of the data will affect the comparability of the data. Source: Canadian Fertilizer Institute--Canadian Fertilizer Information System: Western Retail Sales Statistics July 2008 to March 2009.
40
Fertilizer Statistics Fertilizer Consumption - United States

25,000 ('000 metric tonnes) 20,000 15,000 10,000 5,000 0 1960
1965
1970
1975 Nitrogen
1980
1985
1990 Potash
1995
2000
2005
Phosphate
Source: The Fertilizer Institute, 2009.
41
Fertilizer Statistics Fertilizer Consumption - Canada

3,000 ('000 metric tonnes) 2,500 2,000 1,500 1,000 500 0 1973 1978 1983 1988 Nitrogen 1993 Phosphate 1998 Potash 2003 2008
Source: The Fertilizer Institute, 2009. Note: Beginning 2001, for Quebec, year ending is July 31.
42
Fertilizer Statistics Historical Fertilizer and Gas Prices - North America

20 1400 1300 18 1200 16 1100 1000 14 900 12 800 $9.03 700 10 $8.62 600 $7.20 $6.87 8 500 $6.13 $5.36 6 400 $4.34 $3.89 $4.26 300 $3.22 4 $2.63 $2.60 $2.12 $2.29 200 2 100 0 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 (Jan - May) Urea Gran NOLA fob Ammonia ACB fob Nymex Price Urea Gran W. Canada dIv Ammonia W. Canada dIv
US$/metric tonne
US$mmBtu dIv
US$/metric tonne
1000 900 800 700 600 500 400 300 200 100 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 (Jan - May) DAP PNW dIv DAP CFL fob KCL ACB fob
Source:
Fertilizer prices are all spot weighted averages before any discounts, year average refers to calendar year. NOLA = refers to a FOB price (loaded on barge) at the U.S. Gulf port, New Orleans, Louisiana. ACB refers to the weighted average price in the U.S. corn belt. CFL refers to Central Florida. Gas prices are unhedged spot delivered to an ammonia plant located close to New Orleans, Louisiana (YTD Avg). Blue, Johnson and Associates Inc., The Sheet, May 2009.
43
South America
44
South America Markets

Investing in South America provides an opportunity to grow where agriculture is growing. Our current operations, Profertil and ASP, will allow us to leverage our strengths as we enter new markets. Brazil, Uruguay and Chile are key markets for expansion in South America beyond our Argentinian base. In 2009, we are continuing to grow by opening two retail farm branches in Uruguay.
Brazil
Brazil is one of the largest fertilizer import markets in the world, importing on average approximately 70 percent of their nutrient requirements. It is also one of the fastest growing markets in the world, with a 6.4 percent compound annual growth rate between 1993 and 2008. Brazil has the fourth highest consumption of crop nutrients in the world and is the worlds third largest import market. Looking forward, the country still has approximately 60 million hectares of land which can be brought into agricultural production in order to fulfill growing global demand for grains and oilseeds. Over the last 15 years Brazil has grown to become one of the worlds largest agricultural producers and exporters.
Agrium South America Retail

Agroservicios Pampeanos (ASP) is a wholly owned subsidiary of Agrium with close to 300 employees serving farmers through Farm Centers that supply inputs and services in Argentina and Chile. Products include fertilizers, chemicals, and seed. ASP has recently expanded into Uruguay. In 2009, two farm centers were built expanding Agriums South American presence. ASP Chile is involved primarily in the distribution of private label chemical products to retail facilities.
Products
Granulated Urea Diammonium Phosphate (DAP) Monammonium Phosphate (MAP) Granulated Ammonium Sulphate
45
Agrium South America Retail Agroservicios Pampeanos

(January 2009)
Farm Centers Fertilizer Plant Satellites Total
Argentina 28 1 3 32
Chile 2 0 0 2
Uruguay 2 0 0 2
Argentina
27 retail farm centers, three satellite centers, one fertilizer plant to pelletize gypsum, and one chemical storage warehouse.
(32 facilities in Argentina)
b Buenos Aires Province

(17 locations)
b Buenos Aires Province

Mechita OHiggins Olavarria fertilizer plant Pieres San Antonio de Areco Tres Arroyos 30 de Agosto Trenque Lauquen *
c Cordoba Province
(7 locations)
e Entre Rios Province

(1 location)
s Salta Province
(1 location)
Salta
Alberdi America Balcarce Bolivar Colonia Hinojo Colonel Surez El Arbolito French Gardey
Cnel. Baigorria Colonia Bismark General Roca Gral. Cabrera Rio Cuarto * Villa Maria Monte Buey *
Victoria
m Mendoza Province
(1 location)
Sante Fe Province
(5 locations)
Cuyo
Casilda Casilda Col* Chapuy La California Galvez
Chile
Two chemical storage warehouses (2 facilities)
s
La Serena
t
Temuco
Uruguay
Two retail farm centers (2 facilities)
d
Dolores
y
Young
Agroservicios Pampeanos 36 facilities in South America
* Note:
Satellites Five additional locations to the above include: Argentina: Gypsum pelletizing facility, Central Office, North and South division (4 facilities). Chile: Central Office (1 facility).
46
Agrium South America Retail Locations
Guatemala
Honduras El Nicaragua Salvador Costa Rica Panama
Venezuela Guyana Columbia Cayenne French Guiana
Ecuador
Peru
Brazil
Bolivia
Chile
Paraguay
Uruguay
Argentina
Agroservicios Pampeanos (ASP)
47
Agrium South America Wholesale

Agrium began commercial production at the Profertil plant outside of Buenos Aires, Argentina in the third quarter of 2000. Agrium owns 50 percent of this operation while Repsol YPF S.A., one of the leading private oil companies in the world, owns the other half.
Production Capacity
(metric product tonnes per year)
Nitrogen Based Fertilizers: Argentina

Bahia Blanca (Profertil S.A.) (1) Ammonia (gross) Ammonia (net) Urea 750,000 70,000 1,200,000
Agrium Owned Distribution Facilities

(metric product tonnes per year)
Argentina
(1)
Urea Bahia Blanca San Nicolas Total Argentina 150,000 77,000 227,000
NH
Liquid
20,000 45,000 20,000 45,000
(1) Profertil S.A. is 50 percent owned by Agrium Inc. and 50 percent owned by Repsol YPF, S.A. Source: Agrium
48
Agrium South America Wholesale Production and Distribution Locations
Guatemala
Honduras El Nicaragua Salvador Costa Rica Panama
Venezuela Guyana Columbia Cayenne French Guiana
Ecuador
Peru
Brazil
Bolivia
Chile
Paraguay
San Nicolas Import Terminal (Profertil) Uruguay
Argentina Bahia Blanca (Profertil S.A.)
Nitrogen Production Facility Anhydrous Ammonia Storage Solution Storage Dry Storage
49

N -
P 160
K -
Bunge Ltd.

Public company, traded on the New York Stock Exchange, under the ticker BG FY2008 EBITDA: $2,888 ($ millions) Website address: www.bunge.com.br Headquarters: Sao Paulo, Brazil Facilities located in: Brazil 1,066 Private Company Headquarters: Trinidad and Tobago Facilities located in: Point Lisas, Trinidad, Tobago Public company, traded on the New York Stock Exchange, under the ticker SQM FY2008 EBITDA: $739 ($ millions) Website Address: www.sqm.cl Headquarters: Santiago, Chile Facilities located in: Chile, United States, Mexico, Belgium, Netherlands, Turkey, UAE, France, Private Company Website address: www.copebras.com.br/ingles Headquarters: Bela Vista, Brazil Facilities located in: Brazil 616 840 Public company, traded on the Sao Paulo Stock Exchange, under the ticker FFTL4 FY2008 EBITDA: $745 ($ millions) www.fosfertil.com.br Headquarters: Uberaba, Brazil Facilities located in: Brazil 858 119 Public company, traded on the Buenos Aires Stock Exchange, under the ticker PBE FY2008 EBITDA: $855 ($ millions) Website address: www.petrobrasenergia.com Headquarters: Buenos Aires, Argentina Facilities located in: Argentina 510 Public company, traded on the Sao Paulo Stock Exchange, under the ticker VALE5 FY2008 EBITDA: $16,632 ($ millions) Website Address: www.vale.com Headquarters: Rio de Janeiro, Brazil Facilities located in: Brazil, Canada 910
Caribbean Nitrogen Company Ltd.

Chemical and Mining Company of Chile Inc.

Copebras Ltda

286
Fosfertil

Petrobras(1)

Vale S.A.

(1) The major stock exchange is listed, some companies are listed on multiple stock exchanges. Source: www.CaptialIQ.com, a Division of Standard and Poors. IFDC Worldwide Ammonia Capacity Listing by Plant, June 2009. IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2009. IFDC Worldwide Potash Capacity Listing by Plant, June 2009.
50
Agricultural Statistics Crop Production - Argentina

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Corn
(seed December, harvest April)
2010/09(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02
2.0 2.3 3.4 2.8 2.4 2.8 2.3 2.4 2.5
7.5 5.8 6.5 8.0 6.5 7.4 6.5 6.3 6.0
15.0 13.0 22.0 22.5 15.8 20.5 15.0 15.5 14.7
Soybean
(seed November, harvest May)
2010/09(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02
18.0 16.0 16.4 16.3 15.2 14.4 14.0 12.6 11.4
2.8 2.0 2.8 3.0 2.7 2.7 2.4 2.8 2.6
51.0 32.0 46.2 48.8 40.5 39.0 33.0 35.5 30.0
Wheat
(seed June, harvest January)
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02
3.0 4.2 6.0 5.3 5.0 6.1 5.7 5.9 6.8
2.8 2.0 3.0 2.9 2.9 2.6 2.5 2.1 2.3
8.5 8.4 18.0 15.2 14.5 16.0 14.0 12.3 15.5
(e) estimated (p) projected Source: USDA, WAP 08-08, August 2009.
51
Agricultural Statistics Crop Production - Brazil

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Corn
(seed November, harvest March)
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02
14.0 14.1 14.7 14.0 12.9 11.6 12.4 13.0 11.8
3.9 3.6 4.0 3.6 3.2 3.0 0.4 3.4 3.0
54.0 50.0 58.6 51.0 41.0 35.0 42.0 44.5 35.5
Soybean
(seed November, harvest May)
2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02
22.0 21.7 21.3 20.7 22.2 22.9 21.5 18.4 16.4
2.7 2.6 2.9 2.9 2.6 2.3 2.4 2.9 2.7
60.0 57.0 61.0 59.0 57.0 53.0 50.5 52.5 43.5
(e) estimated (p) projected Source: USDA, WAP 08-09, August 2009.
52
Fertilizer Statistics Fertilizer Consumption in Brazil and Argentina

Primary Nutrient Consumption N P2O5 3,196 3,551 4,178 2,915 2,820 3,773 3,464 K20 3,650 3,900 4,175 3,460 3,426 3,911 3,812 Total 8,399 9,033 9,854 7,911 7,735 9,068 8,668
Brazil
2009(p) 2008 2007 2006 2005 2004 2003 1,553 1,582 1,501 1,536 1,489 1,384 1,392
Primary Nutrient Consumption N P2O5 626 696 748 743 469 508 395 K20 55 58 55 55 48 40 30 Total 1,598 1,647 1,470 1,627 1,222 1,291 1,110
Argentina
2009(p) 2008 2007 2006 2005 2004 2003 917 893 667 829 705 743 685
(p) projected Source: British Sulphur Consultants, Ten Year Forecast and Market Analysis Service Ammonia, March 2009. British Sulphur Consultants, Ten Year Forecast and Market Analysis Service Phosphoric Acid, DAP, MAP and TSP, February 2009. Fertecon, Potash Outlook, April 2009.
53
Europe
54
European Markets
Europe consumes approximately 45 million tonnes of fertilizer per year. In the EU-27(1), there are 109 million hectares of arable land, of which approximately 40 percent is cereals and 15 percent is oilseeds. Europe produces a diversity of crops and engages in differing agricultural practices due to variety in climate and fertilization patterns across the continent. The EU-15(2) is a growth market for environmentally friendly crop nutrient and crop protection products. In contrast, the countries in the EU-12(3) are less mature in terms of application rates of nitrogen, phosphate and potash and fertilizer consumption continues to modestly increase. In July of 2008, Agrium acquired a 70 percent interest in Common Market Fertilizers, (CMF), a European fertilizer distribution company. CMF employs approximately 70 people, has eight sales offices in five different countries. CMF purchases, distributes and sells fertilizer, provides custom blending, bagging and palletizing services and has access to key dry and liquid storage facilities.
Common Market Fertilizers S.A.

Ireland United Kingdom
11 17
Netherlands Belgium
12 10
13
Poland
1 2
Germany Czech Republic
Ukraine Slovakia
9
France
8
Austria Switzerland Slovenia Croatia
Hungary Romania
7 5 6 16
Italy
14
Bosnia and Herzegovina Serbia
15
4
Bulgaria
Leased Warehouse
Owned Warehouse
CMF Subsidiary/Sales Office
Head Office
Belgium
(2 locations)
France
(6 locations)
Germany
(4 locations)
Italy
(4 locations)
United Kingdom
(1 location)
1. Antwerpen 2. Brussels 3. Ghent
Bulgaria
(1 location)
5. Angoulme 6. Bordeaux/Blaye 7. La Pallice 8. Reims Cedex 9. Rouen
10. Buchholz i.d.N 11. Emden 12. Lubeck 13. Rostock
14. Porto Nogaro 15. Ravenna 16. Savona
17. London
4. Pleven
(1) (2) (3)
EU-27: Countries part of the EU-15 plus EU-12. EU-15: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom. EU-12: Bulgaria, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia.
55

N -
P 1,064
K -
Ammofos OAO (subsidary of FosAgro Holding)

Private Company Website address: www.ammophos.ru Headquarters: Cherepovets, Russia Facilities located in: Russia, Uzbekistan 5,446
Rue PA Belaruskali

Private Company Website address: www.kali.by/english Headquarters: Soligorsk, Belarus Facilities located in: Belarus 4,250
K+S Aktiengesellschaft

Public company, traded on Deutsche Borse Stock Exchange, under the ticker SDF(1) FY2008 EBITDA: $2,064 ($ millions) Website address: www.k-plus-s.com Headquarters: Kassel, Germany Facilities located in: Germany, France. 3,308
Uralkali JCS

Public company, traded on Russian Trading System Stock Exchange, under the ticker URKA(1) FY2008 EBITDA: $1,279 ($ millions) Website address: www.uralkali.com Headquarters: Berezniki, Russia Facilities located in: Russia 6,560(2) 300(2) -
Yara International ASA

Public company, traded on Oslo Stock Exchange, under the ticker symbol YAR(1) FY2008 EBITDA: $2,157 ($ nillions) Website address: www.yara.com Headquarters: Oslo, Norwary Facilities located in: Norway, Sweden, France, Germany, Netherlands, Italy, Trinidad, Brazil, Canada Previously called Hydro Agri, which was part of Norsk Hydro until March 2004 1,843 442 -
Zaklady Azotowe Pulaway SA

Public company, traded on Warsaw Stock Exchange, under the ticker ZAP(1) FY2008 EBITDA: $138 ($ millions) Website address: www.azoty.pulawy.pl Headquarters: Pulawy, Poland Facilities located in: Poland
(1) (2)
The major stock exchange is listed, some companies listed on multiple stock exchanges. Includes Yaras joint venture share of capacity in Le Havre (47.85 percent), Point Lisas (49 percent), Ince (50 percent), Billingham (50 percent), Qafco (25 percent), Lifeco (50 percent), Rossoh (30 percent), Burrup (30 percent). Source: Company websites. Capital IQ: www.CapitalIQ.com, a dvision of Standard and Poors. IFDC Worldwide Ammonia Capacity, Listing by Plant, June 2009. IFDC Worldwide Phosphoric Acid Capacity, Listing by Plant, June 2009. IFDC Worldwide Potash Capacity, Listing by Plant, June 2009.
56
Agricultural Statistics Crop Production - Europe(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Barley
2007 2006 2005 2004 2003 2002 2001 2000 27.3 29.8 28.0 28.9 28.9 29.1 29.2 27.6 3.0 3.0 3.0 3.3 2.9 3.1 3.2 3.0 82.6 89.0 83.1 96.4 83.2 91.3 92.4 84.0
Corn
2007 2006 2005 2004 2003 2002 2001 2000 13.9 13.6 13.8 15.7 14.9 13.4 13.6 13.7 5.2 5.7 6.2 6.1 4.7 5.7 5.6 4.6 72.1 77.2 86.1 96.5 69.6 76.7 76.7 63.5
Canola
2007 2006 2005 2004 2003 2002 2001 2000 8.1 6.4 5.5 5.0 4.5 4.6 4.5 4.6 2.5 2.7 3.0 3.2 2.5 2.6 2.6 2.5 20.4 17.5 16.5 16.1 11.5 12.0 12.0 11.7
(1)
Europe includes Eastern, Western, Southern and Northern Europe. Eastern Europe: Belarus, Bulgaria,Czech Republic, Hungary, Poland, Republic of Moldova, Romania, Russian Federation, Slovakia, Ukraine, USSR. Northern Europe: Aland Islands, Channel Islands, Dennmark, Estonia, Faeroe Islands, Finland, Guernsey, Iceland, Ireland, Isle of Man, Jersey, Latvia, Lithuania, Norway, Svalbard and Jan Meyen Islands, Sweden, United Kingdom of Great Britain and Northern Ireland. Southern Europe: Albania, Andorra, Bosnia and Herzegovina, Croatia, Gibraltar, Greece, Holy See, Italy, Malta, Montenegro, Portugal, San Marino, Serbia, Slovenia, Spain, The former Yugoslavia Republic of Macedonia. Western Europe: Austria, Belgium, France, Germany, Liechtenstein, Luxembourg, Monaco, Neitherlands, Switzerland. Source: FAO Website, Crop Production Statistics, Updated July 2009.
57
Agricultural Statistics Crop Production - Europe(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Sunflower Seeds
2007 2006 2005 2004 2003 2002 2001 2000 12.1 14.3 13.2 12.4 13.5 10.4 9.8 11.3 1.2 1.4 1.4 1.3 1.2 1.2 1.1 1.2 15.2 19.8 18.0 15.6 16.3 13.0 10.6 13.3
Wheat
2007 2006 2005 2004 2003 2002 2001 2000 56.1 55.3 59.6 57.0 48.6 60.3 58.4 55.3 3.4 3.5 3.5 3.9 3.2 3.5 3.5 3.3 189.7 191.7 208.4 219.8 153.7 211.8 202.0 183.6
(1)
Europe includes Eastern, Western, Southern and Northern Europe. Eastern Europe: Belarus, Bulgaria,Czech Republic, Hungary, Poland, Republic of Moldova, Romania, Russian Federation, Slovakia, Ukraine, USSR. Northern Europe: Aland Islands, Channel Islands, Dennmark, Estonia, Faeroe Islands, Finland, Guernsey, Iceland, Ireland, Isle of Man, Jersey, Latvia, Lithuania, Norway, Svalbard and Jan Meyen Islands, Sweden, United Kingdom of Great Britain and Northern Ireland. Southern Europe: Albania, Andorra, Bosnia and Herzegovina, Croatia, Gibraltar, Greece, Holy See, Italy, Malta, Montenegro, Portugal, San Marino, Serbia, Slovenia, Spain, The former Yugoslavia Republic of Macedonia. Western Europe: Austria, Belgium, France, Germany, Liechtenstein, Luxembourg, Monaco, Neitherlands, Switzerland. Source: FAO Website, Crop Production Statistics, Updated July 2009.
58
Fertilizer Statistics Fertilizer Consumption in Europe - Top Five

Year
N 2,754 2,850 2,775 2,687 2,661 2,840 2,444 1,359 1,420 1,355 1,713 1,555 1,576 1,539 1,592 1,843 1,870 1,846 1,761 1,724 1,456 1,879 1,469 1,273 1,547 1,596 1,720 1,716 1,356 1,374 1,400 1,346 1,304 1,243 1,081
Primary Nutrient Consumption P 2 O5 K20 304 317 247 274 356 344 391 606 632 583 594 683 810 784 416 410 276 304 346 320 303 39 41 51 102 42 53 54 50 52 42 42 43 42 46 420 511 443 426 480 486 475 600 795 731 735 900 932 960 475 500 435 425 404 389 377 60 78 78 77 77 76 75 68 76 77 78 79 80 80
Total 3,478 3,678 3,465 3,387 3,497 3,670 3,310 2,565 2,847 2,669 3,042 3,138 3,318 3,283 2,483 2,753 2,581 2,575 2,511 2,433 2,136 1,978 1,588 1,402 1,726 1,715 1,849 1,845 1,474 1,502 1,519 1,466 1,426 1,365 1,207
Germany
2008 2007 2006 2005 2004 2003 2002
France
2008 2007 2006 2005 2004 2003 2002
Poland
2008 2007 2006 2005 2004 2003 2002
Netherlands
2008 2007 2006 2005 2004 2003 2002
Belgium/Luxembourg
2008 2007 2006 2005 2004 2003 2002
Source: British Sulphur, Ammonia Ten Year Outlook 2008/09 (Update 2), March 2009 British Sulphur, Phosphoric Acid, DAP, MAP and TSP Ten Year Forecast to 2016 (Update 2), February 2009 Fertecon Potash Outlook, April 2009
59
Asia and Parts of the Pacic Rim
60
Asia and Parts of the Pacific Rim Markets China

China is the worlds largest fertilizer market and several Asian countries boast some of the highest consumption growth rate forecasts. Rising annual incomes of Chinas population are driving an improvement in diets and increasing the amount of grain, dairy, and meat consumed in China. The impact of Chinas emerging middle class on domestic diet will be significant. Over the next ten to fifteen years there will be an increased demand both on Chinas arable land and global crop nutrients as industrialization accelerates Chinas cropland loss. Our 19.6 percent investment in Hanfeng Evergreen (HF) has been a strong first step for Agrium into the Chinese fertilizer market with a specific focus on the controlled release fertilizer market. In April 2008, we officially opened our Agrium office in Beijing, establishing a platform from which to further expand into the Chinese market.
India
Forecasts indicate that by 2025 India will become the 5th largest consumer economy in the world. While urbanization is not developing at similar rates compared to other parts of Asia, urban population is expected to grow significantly. With this, comes a rising middle-class which is expected to outnumber China over the next 10 years. The shift towards a protein rich diet, associated with a growing middle class will require an increase in agricultural production. Increasing agricultural production will increase demand for crop nutrients.
Australia
As diets improve in countries in South East Asia, the Australian market is increasingly viewed as a valuable source of food for this growing market. Australias primary crops are sugarcane, wheat, barley, grapes, and sorghum. Despite Australias landmass, only 6.15 percent is classified as arable. As Australian agriculture focuses on increasing yields there will be an increasing demand for the three primary crop nutrients, nitrogen, phosphate, and potash; as well as for specialty fertilizers and crop protection products.
Asia and Parts of the Pacific Rim
Kazakhstan
Mongolia
Afghanistan Pakistan India Nepal
China
N. Korea S. Korea
Japan
Bangladesh Myanmar Laos Thailand Cambodia

Agrium China Office Hanfeng Production Facility
Taiwan Phillippines Vietnam
61

N 615
P -
K -
China Blue Chemical Ltd.

Public Company, traded on the Hong Kong Stock Exchange, under the ticker 3983 FY2008 EBITDA 2008: $368 ($ millions) Website address: www.chinabluechem.com.cn Headquarters: Dongfang city, Hainan Province, China Facilities located in: China, Inner Mongolia 463 507 -
IncitecPivot Ltd.

Public Company, traded on the Australian Securities Exchange, under the ticker IPL FY2008 EBITDA 2008: $747 ($ millions) Website address: www.incitecpivot.com.au Headquarters: Southbank, Australia Facilities located in: United States, Canada, Mexico, Australia 1,962 -
Indian Farmers Fertiliser Co-operative Limited

Private Company Website address: www.iffco.nic.in Headquarters: New Delhi, India Facilities located in: India 735 -
Krishak Bharati Cooperative Limited

Private Company Website address: www.kribhco.net Headquarters: Noida, U.P., India Facilities located in: Surat Hazira (Industrial City in India) 1,345
Qinghai Salt Lake Potash Co. Ltd

Public Company, traded on the Shenzhen Stock Exchange, under the ticker 00792 FY2008 EBITDA 2008: $432 ($ millions) Website address: www.yhjf.com (in chinese) Headquarters: Geermu, China Facilities located in: China 3,171 -
SINOFERT Holdings Ltd.

Public Company, traded on the Hong Kong Stock Exchange, under the ticker 0297 FY2008 EBITDA 2008: $329 ($ millions) Website address: www.sinofert.com/english Headquarters: Wachai, Hong Kong Facilities located in: China
Source: Company Websites. www.CapitalIQ.com, a Division of Standard and Poors. IFDC Worldwide Ammonia Capacity Listing by Plant, June 2009. IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2009. IFDC Worldwide Potash Capacity Listing by Plant, June 2009.
62
Agricultural Statistics Crop Production - Asia(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Corn
2007 2006 2005 2004 2003 2002 2001 2000 49.4 48.0 46.1 44.6 42.8 42.1 41.9 40.9 4.3 4.3 4.2 4.1 3.9 3.9 3.7 3.6 212.2 205.0 192.0 180.4 163.5 162.3 155.9 145.9
Rice Paddy
2007 2006 2005 2004 2003 2002 2001 2000 139.2 138.5 137.0 133.5 132.7 132.2 136.3 138.0 4.3 4.2 4.2 4.1 4.0 3.9 4.0 4.0 599.9 580.3 570.9 546.8 529.9 514.8 544.1 545.1
Seed Cotton
2007 2006 2005 2004 2003 2002 2001 2000 20.9 20.7 20.1 20.8 18.7 17.6 20.2 18.7 2.3 2.1 2.0 2.0 1.7 1.7 1.6 1.6 48.3 44.3 39.8 41.2 32.0 29.9 32.7 29.3
Wheat
2007 2006 2005 2004 2003 2002 2001 2000 84.0 83.9 83.5 81.6 80.3 82.8 81.3 84.6 3.0 2.9 2.8 2.8 2.7 2.7 2.7 2.7 252.7 244.9 231.6 224.0 213.7 222.2 217.3 226.4
Asia is divided into Southern, South-Eastern, Central and Eastern Asia. Southern Asia: Afghanistan, Bangladesh, Bhutan, India, Iran, Maldives, Nepal, Pakistan, Sri Lanka. South-Eastern Asia: Brunei Darussalam, Cambodia, Indonesia, Lao Peoples Democratic Republic, Malaysia, Myanmar, Phillipines, Singapore, Thailand, Timor-Leste, Vietnam. Central Asia: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan. Eastern Asia: China, Hong Kong Special Administrative Region of China, Macao Special Administrative Region of China, China mainland, China, Taiwan Province, Democratic Peoples Republic of Korea, Japan, Mongolia, Republic of Korea. Source: FAO Website, Crops Production Statistics, July 2009.
(1)
63
Agricultural Statistics Crop Production - Parts of the Pacific Rim(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Barley
2007 2006 2005 2004 2003 2002 2001 2000 4.5 4.2 4.5 4.7 4.5 3.9 3.8 3.5 1.4 1.1 2.2 1.7 2.4 1.1 2.3 2.0 6.3 4.5 9.8 8.0 10.8 4.3 8.7 7.1
Canola
2007 2006 2005 2004 2003 2002 2001 2000 1.1 1.1 1.0 1.4 1.2 1.3 1.3 1.5 1.0 0.6 1.5 1.1 1.4 0.7 1.3 1.2 1.1 0.6 1.4 1.5 1.7 0.9 1.8 1.9
Oats
2007 2006 2005 2004 2003 2002 2001 2000 0.9 1.0 0.9 0.9 1.1 0.9 0.8 0.7 1.0 0.8 1.8 1.5 1.9 1.1 1.9 1.7 0.9 0.8 1.7 1.3 2.0 1.0 1.5 1.1
(1)
Pacific Rim includes Australia, New Zealand and Norfolk Island and Melanesia. Melanesia: Fiji, New Caledonia, Papua New Guinea, Solomon Islands, Vanuatu. Source: FAO Website, Crops Production Statistics, July 2009.
64
Agricultural Statistics Crop Production - Parts of the Pacific Rim(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Sorghum
2007 2006 2005 2004 2003 2002 2001 2000 0.6 0.8 0.8 0.7 0.7 0.8 0.8 0.6 2.1 2.5 2.7 2.7 2.2 2.5 2.6 3.4 1.3 1.9 2.0 2.0 1.5 2.0 1.9 2.1
Wheat
2007 2006 2005 2004 2003 2002 2001 2000 12.4 11.8 12.5 13.4 13.1 11.2 11.6 12.2 1.1 0.9 2.0 1.7 2.0 0.9 2.1 1.8 13.5 11.1 25.5 22.2 26.5 10.4 24.7 22.4
(1)
Pacific Rim includes Australia, New Zealand and Norfolk Island and Melanesia. Melanesia: Fiji, New Caledonia, Papua New Guinea, Solomon Islands, Vanuatu. Source: FAO Website, Crops Production Statistics, July 2009.
65
Fertilizer Statistics Fertilizer Consumption in Asia - Top Five

Year
N 41,079 41,967 40,219 36,673 33,638 30,133 28,912 11,353 11,264 11,678 11,421 12,127 11,103 11,183 3,048 3,131 3,050 2,951 2,817 2,690 2,661 2,572 2,528 2,541 2,426 2,357 2,229 2,188 1,292 1,260 1,264 1,204 1,277 1,252 1,269
Primary Nutrient Consumption P 2 O5 K20 11,005 11,464 11,464 12,557 10,177 10,258 8,952 5,584 5,474 5,384 4,828 4,786 4,400 4,219 513 510 507 673 304 266 207 1,009 1,030 808 988 806 651 649 461 466 375 416 411 422 181 5,625 6,200 6,200 5,700 4,800 4,257 3,914 2,850 2,650 2,335 2,413 2,061 1,598 1,601 1,000 930 800 750 750 600 450 25 37 36 45 33 28 21 355 355 358 360 347 336 339
Total 57,709 59,631 57,883 54,930 48,615 44,648 41,778 19,787 19,388 19,397 18,662 18,974 17,101 17,003 4,561 4,571 4,357 4,374 3,871 3,556 3,318 3,606 3,595 3,385 3,459 3,196 2,908 2,858 2,108 2,081 1,997 1,980 2,035 2,010 1,789
China
2008 2007 2006 2005 2004 2003 2002
India
2008 2007 2006 2005 2004 2003 2002
Indonesia
2008 2007 2006 2005 2004 2003 2002
Pakistan
2008 2007 2006 2005 2004 2003 2002
Japan
2008 2007 2006 2005 2004 2003 2002
Source: British Sulphur, Ammonia Ten Year Outlook 2008/09 (Update 2), March 2009. British Sulphur, Phosphoric Acid, DAP, MAP and TSP Ten Year Forecast to 2016 (Update 2), February 2009. Fertecon Potash Outlook, April 2009.
66
Fertilizer Statistics Fertilizer Consumption in Parts of the Pacific Rim

Year
Total
Australia
2008 2007 2006 2005 2004 2003 2002 1,002 930 982 894 835 790 839 931 980 901 1,026 1,209 1,156 1,153 245 227 222 222 255 235 235 2,178 2,137 2,105 2,142 2,299 2,181 2,227
New Zealand
2008 2007 2006 2005 2004 2003 2002 87 111 125 108 121 124 107 376 392 390 430 507 481 457 140 120 135 140 163 157 163 603 623 650 678 791 762 727
67
Africa and the Middle East
68
Africa and Middle Eastern Markets

Africa and the Middle East are markets with significant future growth potential. In 2008, these two regions accounted for approximately three percent and five percent, respectively, of total world nitrogen, phosphate and potash consumption. Africa consumed 6.29 million metric tonnes, and the Middle East consumed 11.04 million metric tonnes. Africas consumption is expected to grow eight percent annually between 2008 and 2015, while the Middle East is expected to grow six percent annually. Nitrogen is the predominant nutrient used in crop fertilization in Africa and the Middle East. In 2008, nitrogen accounted for approximately 82 percent of the total nitrogen, phosphate, and potash consumption in both Africa and the Middle East. The top nitrogen consuming countries are Egypt, Oman, Qatar and Saudi Arabia. The top five producing countries (based on NPK) in this region are Saudi Arabia, Egypt, Morocco, Iran, and Israel. Iran, Saudi Arabia, Qatar and Egypt rank among the top 20 countries in the world in production of natural gas. Access to low-cost natural gas will support the growth of nitrogen production in the Middle East. Agriculture contributes significantly to the GDP of Africa and the Middle East. Available arable land in Africa and the Middle East is approximately 162 million and approximately 160 million hectares respectively. The major crops of this region are canola, corn, wheat and millet. Corn is the main crop produced in both Africa and the Middle East, with 52.2 million tonnes produced in 2007 and approximately 29 million hectares harvested.
Africa and the Middle East

France Italy
Spain Greece Tunisia orocco Turkey
Syria Israel Jordan Iraq Iran
Algeria Libya Egypt Saudi Arabia UAE Niger Chad Sudan Oman
Damietta (MOPCO Nitrogen Production Facility)(1)
(1) Agrium owns a 26 percent interest in MISR Oil Processing Company, S.A.E. (MOPCO) in Egypt. Source: British Sulphur, Ammonia Ten Year Outlook, March 2009. British Sulphur, Phosphoric Acid, DAP, MAP and TSP Ten Year Forecast, February 2009. Fertecon, Potash Outlook, June 2009.
69

N -
P -
K 2,200
Arab Potash Co. Ltd.

Public company, Trades on the Amman Stock Exchange (ASE), under the ticker APOT FY2008 EBITDA: $540 ($ millions) Website address: www.arabpotash.com Headquarters: Amman, Jordan Facilities located in: Jordan 550 2,200
Israel Chemical Ltd.

Public company, Trades on the Tel Aviv Stock Exchange (TASE), under the ticker ICL FY2008 EBITDA: $2,575 ($ millions) Website address: www.icl-group.com Headquarters: Tel Aviv, Israel Facilities located in: Israel, Brazil, China, India, Thailand, USA, Argentina, Canada, Europe 3,260 -
Office Chrifien des Phosphates

Private Company Website address: www.ocpgroup.ma/english/ Headquarters: Casablanca, Morocco Facilities located in: Morocco 1,596 -
Qatar Fertilizer Company

Private Company Website address: www.qafco.com Headquarters: Mesaieed Industrial City, Qatar Facilities located in: Qatar 1,722 -
Saudi Arabian Fertilizers Company

Public company, Trades on the Saudi Stock Exchange, under the ticker 2020 FY2008 EBITDA: $1,276 ($ millions) Website address: www.safco.com.sa Headquarters: Jubail Industrial City, Saudi Arabia Facilities located in: Saudi Arabia
Source: Company Websites. www.CapitalIQ.com, a Division of Standard and Poors. IFDC Worldwide Ammonia Capacity Listing by Plant, June 2009. IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2009. IFDC Worldwide Potash Capacity Listing by Plant, June 2009.
70
Agricultural Statistics Crop Production - Africa(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Cocoa Beans
2007 2006 2005 2004 2003 2002 2001 2000 5.7 6.0 5.9 5.9 5.1 4.6 4.7 5.1 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2.8 2.9 2.8 2.9 2.4 2.1 2.1 2.4
Corn
2007 2006 2005 2004 2003 2002 2001 2000 28.0 28.3 28.8 27.6 28.3 25.4 23.9 24.3 1.7 1.7 1.8 1.7 1.6 1.8 1.7 1.8 47.7 49.2 51.0 47.9 45.5 44.8 41.4 44.3
Millet
2007 2006 2005 2004 2003 2002 2001 2000 21.3 21.3 20.5 18.7 20.5 19.9 18.9 19.6 0.8 0.8 0.8 0.8 0.8 0.7 0.7 0.7 17.5 17.6 16.7 14.0 15.6 13.8 13.5 12.7
Sorghum
2007 2006 2005 2004 2003 2002 2001 2000 29.5 29.7 29.1 22.3 25.4 22.9 23.7 21.3 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 26.1 26.7 25.2 21.0 23.2 19.9 20.9 18.4
Africa includes Eastern, Western, Middle, Northern and Southern Africa. Eastern Africa: Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritus, Mayotte, Mozambique, Reunion, Rwanda, Seychelles, Somalia, Uganda, United Republic of Tanzania, Zambia and Zimbabwe. Middle Africa: Angola, Cameroon, Central African Republic, Chad, Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Sao Tome and Principe. Northern Africa: Algeria, Egypt, Libyan Arab Jamahiriya, Mororrow, Sudan, Tunisia, Western Sahara. Southern Africa: Botswana, Lesotho, Namibia, South Africa, Swaziland. Western Africa: Benin, Burkina Faso, Cape Verde, Cote dIvoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Saint Helena, Senegal, Sierra Leone, Togo. Source: FAO Website Crop Production Statistics, July 2009.
(1)
71
Agricultural Statistics Crop Production - Middle East (West Asia)(1)

Area Harvested
(millions ha)
Yield
(tonnes/ha)
Production
(millions tonnes)
Barley
2007 2006 2005 2004 2003 2002 2001 2000 6.3 6.4 6.5 6.3 6.1 6.6 6.6 6.4 1.6 1.9 1.8 1.8 1.8 1.7 1.7 1.4 9.7 12.4 11.8 11.1 10.9 11.1 11.0 9.1
Corn
2007 2006 2005 2004 2003 2002 2001 2000 1.0 1.0 1.1 1.1 1.0 0.9 1.0 1.0 5.1 5.2 5.0 4.1 4.1 3.5 3.3 3.3 4.9 5.0 5.6 4.4 4.0 3.3 3.2 3.1
Olives
2007 2006 2005 2004 2003 2002 2001 2000 1.5 1.5 1.3 1.4 1.4 1.4 1.3 1.3 1.3 2.4 1.6 2.2 1.3 2.4 1.1 2.4 2.0 3.5 2.1 3.1 1.8 3.3 1.4 3.1
Wheat
2007 2006 2005 2004 2003 2002 2001 2000 13.4 13.3 15.3 14.3 14.2 14.3 13.7 13.6 2.1 2.6 2.2 2.3 2.2 2.2 2.1 2.1 28.3 33.9 33.6 32.7 31.2 32.0 29.3 28.1
Western Asia: Armenia, Azerbaijan, Bahrain, Cyprus,Gaza Strip (Palestine) Georgia, Iraq, Israel, Jordan, Kuwait, Lebanon, Occupied Palestinian Territory, Oman, Qatar, Saudi Arabia, Syrian Arab Republic, Turkey, United Arab Emirates, West Bank, Yemen. Source: FAO Website, Crop Production Statistics, July 2009.
(1)
72
Fertilizer Statistics Fertilizer Consumption in Africa and the Middle East - Top Five
Year
N 2,371 2,541 1,745 1,564 1,574 1,628 1,545 1779 1959 1535 1343 1289 1303 1296 1,428 1,381 1,319 1,367 1,027 817 797 1,351 1,028 741 858 909 970 902 905 908 789 512 4 1 0
Primary Nutrient Consumption P 2 O5 K20 250 244 261 245 238 144 153 154 152 116 149 130 147 134 0 0 0 0 0 1 0 447 440 557 419 452 350 306 1 1 0 1 1 1 2 50 50 46 41 40 46 48 25 23 23 22 23 22 22 185 170 170 165 159 136 102 -
Total 2,671 2,835 2,052 1,850 1,852 1,818 1,746 1958 2134 1674 1514 1442 1472 1452 1,428 1,381 1,319 1,367 1,027 818 797 1,983 1,638 1,468 1,442 1,520 1,456 1,310 906 909 789 513 5 2 2
Egypt
2008 2007 2006 2005 2004 2003 2002
Saudi Arabia
2008 2007 2006 2005 2004 2003 2002
Qatar
2008 2007 2006 2005 2004 2003 2002
Iran
2008 2007 2006 2005 2004 2003 2002
Oman
2008 2007 2006 2005 2004 2003 2002
73
Global
74
Agrium Going Global
Retail 929 locations

(United States)
Nitrogen Production
(Argentina, Canada, Egypt and the United States)
Distribution
(Argentina, Canada and the United States)
Specialty Advanced Technologies

(Canada and the United States)
32 locations
(Argentina)
Phosphate Production
Storage
Common Market Fertilizers S.A. (CMF) (Belgium, France, Germany and Italy)
2 locations
(Chile)
Specialty Hanfeng Evergreen Inc.

(China)
2 locations
(Uruguay)
Phosphate Mining
Potash Production
(Canada)
Potash Mining
(Canada)
75
Agricultural Statistics Total Grains Supply/Demand

(million metric tonnes)
Year 2009/10(p) 2008/09(e) 2007/08 2006/07 2005/06 2004/05 2003/04 2002/03 2001/02 2000/01
Output 2,184 2,227 2,122 2,005 2,019 2,043 1,858 1,816 1,870 1,840
Total Supply 2,629 2,590 2,463 2,393 2,423 2,401 2,302 2,352 2,414 2,402
Trade 263 273 276 260 253 241 241 241 239 233
Total Use 2,180 2,145 2,101 2,053 2,033 1,994 1,947 1,910 1,900 1,860
Ending Stocks 449 445 363 340 390 408 354 442 514 542
Stocks To Use Ratio 21% 21% 17% 17% 19% 20% 18% 23% 27% 29%
(e) estimated (p) projected Source: USDA-WASDE 473-8, August 12, 2009.
76
Agricultural Statistics Crop Cycles: Growing Seasons for Key Global Regions
Seeding Months Harvest Months
Corn
United States S. China Brazil Argentina Western Europe April-May February-April 1st Crop October-December 2nd Crop January-February October-December March-May October-November July-August February-June June-September March-June September-November
Wheat
United States - Winter United States - Spring Canada - Spring China - Winter Argentina - Winter Australia September-October April-May May-June September-October June-August May-July June-August July-September August-October May-June November-January October-December
Soybeans
United States Brazil Argentina Canada May-June 1st crop October-December 2nd Crop-April-May 1st Crop November-January 2nd Crop December-January May-June October-November March-May August-September April-May May-June September-November
Rice
United States India China April-May May-August (Kharif) November-February (Rabi) April-May (single crop) March-April (double crop-early) June-July (double crop-late) November-December (center-south) January-February (north and northeast) September-October October-January March-May August-September June-July October-November February-May June-August
Brazil
Source: USDA FAS.
77
Fertilizer Statistics Fertilizer Consumption by Region Forecasted Consumption 2009

(000 metric nutrient tonnes per year) (Does not include industrial use)
Region(1) Western Europe Central Europe Eastern Europe and Central Asia North America Latin America and the Caribbean Africa West Asia South Asia East Asia Oceania World
N 8,261 2,694 3,644 13,098 5,893 2,892 3,054 19,613 40,805 1,079
P(2) 1,805 644 924 3,952 4,463 941 1,200 7,653 14,471 1,084 37,137
K 2,155 696 1,177 3,684 4,522 414 316 3,524 8,080 297 24,865
NPK 12,221 4,034 5,745 20,734 14,878 4,247 4,570 30,790 63,356 2,460 163,035
% share of world consumption NPK 7% 2% 4% 13% 9% 3% 3% 19% 39% 1% 100%
101,033
(1) (2)
See Constants and Conversions for IFA Regional Classification. Phosphate consumption estimate excludes non phosphoric acid based products, which include SSP, FMP, direct application phosphate rock, and compound NP and NPK. Source: IFA Medium-Term Outlook for World Agriculture and Fertilizer Demand 2008/2009-2013/2014, June 2009.
78
Fertilizer Statistics Fertilizer Consumption by Country Consumption Estimated 2008/09

Rank 1 2 3 4 5 6 7 8 9 10 Top 10 World
N China India USA Pakistan Indonesia France Canada Germany Egypt Bangladesh N N 33,200 15,000 11,700 2,904 2,700 2,380 1,950 1,760 1,350 1,240 74,184 101,033 China India USA Australia Pakistan France Indonesia Canada Russia Japan P P
P(1) 11,000 6,080 3,950 964 860 560 500 490 480 440 25,324 37,137 China USA India Malaysia Indonesia France Poland Germany Spain Canada K K
K 5,000 4,350 2,805 850 750 730 480 460 370 350 16,145 24,865
Total NPK China India USA Indonesia Pakistan France Canada Germany Australia Russia NPK NPK 49,200 23,885 20,000 3,950 3,798 3,670 2,790 2,480 2,079 1,980 113,832 163,035
(1)
Phosphate consumption estimate excludes non phosphoric acid based products, which include SSP, FMP, direct application phosphate rock, and compound NP and NPK. Source: IFA Short-Term Prospects for World Agriculture and Fertilizer Demand 2007/08-2009/10, November 2009.
79
Fertilizer Statistics Fertilizer Production by Region Capacity Estimated 2009

Region(1) East Asia East Europe and Central Asia North America West Europe West Asia South Asia Africa Latin America Central Europe Oceania World
N 60,123 21,244 13,107 10,293 11,615 16,135 5,911 8,879 5,898 1,656 154,859
P(2) 14,476 4,451 9,919 1,025 2,235 2,146 7,893 2,309 1,087 600 46,141
K 3,277 12,195 16,010 5,590 3,570 0 1,195 41,837
NPK 77,876 37,890 39,036 16,908 17,420 18,281 13,804 12,383 6,985 2,256 242,837
% share of world capacity NPK 32% 16% 16% 7% 7% 7% 6% 5% 3% 1% 100%
(1) (2)
See Constants and Conversions for IFA Regional Classifications. Phosphate consumption estimate excludes non phosphoric acid based products, which include SSP, FMP, direct application phosphate rock, and compound NP and NPK. Source: IFA Global Fertilizers and Raw Materials Supply and Supply/Demand Balances 2009-2013, June 2009.
80
Fertilizer Statistics Global Fertilizer Capacity by Country Countries Estimated 2008/09

Rank 1 2 3 4 5 6 7 8 9 10 Top 10 World
N China 45,676 India 12,080 Russia 11,590 United States 8,910 Indonesia 5,319 Ukraine 5,191 Trinidad 4,372 Canada 4,289 Egypt 3,213 Iran 3,157 N N 103,797 151,814
P United States China Morocco Russia India Tunisia Brazil South Africa Ukraine Senegal P P 9,616 8,972 4,440 2,868 2,210 1,585 1,525 1,297 974 660 34,147 45,920
K Canada 19,466 Russia 6,800 Belarus 5,446 Germany 4,250 China 3,991 United States 2,760 Israel 2,420 Jordan 2,266 Ukraine 1,138 Chile 946 K K 49,483 52,011
Total NPK China Canada Russia United States India Ukraine Germany Indonesia Belarus Trinidad NPK NPK 58,639 24,100 21,258 21,286 14,290 7,303 7,053 6,550 5,490 4,372 170,341 249,745
Source: IFDC Worldwide Ammonia Capacity by Plant, June 2009 IFDC Worldwide Potash Capacity Listing by Plant, June 2009. IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2009.
81
Fertilizer Statistics World Nutrient Trade Data: Imports and Exports

(000 metric nutrient tonnes per year of nitrogen)
Urea
Rank 1 2 3 4 5 6 7 8 9 10 Total Top Ten Exports China Russia Saudi Arabia Qatar Ukraine Egypt Oman Canada Venezula Kuwait 2008 2,169 1,921 1,514 1,425 1,311 930 900 694 473 429 11,766 Total Exports 2007 2,698 2,127 1,568 1,293 1,562 1,065 872 785 501 433 12,904 2006 753 2,104 1,247 1,370 1,569 789 773 852 635 420 10,512 Primary Destination India Brazil Thailand United States India France India United States United States United States
Rank 1 2 3 4 5 6 7 8 9 10 Total Top Ten Total World
Imports India United States Brazil Thailand Mexico Turkey Australia Vietnam South Africa Bangledesh
2008 2,715 2,252 800 783 649 593 471 325 296 295 9,179 13,208
Total Imports 2007 2,991 2,675 993 819 679 545 408 345 314 309 10,078 14,757
2006 1,963 2,018 669 758 609 292 479 298 270 152 7,508 12,348
Primary Source Oman Canada Russia Saudi Arabia Russia Ukraine Saudi Arabia China Qatar China
Source: IFA Urea Statistics January-December 2008, February 2009.
82

(000 metric nutrient tonnes per year of nitrogen)
Ammonia
Rank 1 2 3 4 5 6 7 8 9 10 Total Top Ten Exports Trinidad Russia Ukraine Indonesia Canada Saudi Arabia Iran Netherlands Qatar Malaysia 2008 3,753 3,064 1,110 1,023 1,001 724 618 395 372 359 12,419 Total Exports 2007 3,964 2,947 1,193r 1,158 804 741 449 466 406 335 12,463 Total Imports 2007 6,301 1,446 890 460 612 492 301 376 501 179 11,558 14,498 2006 3,860 3,150 1,563r 1,176 910r 476 286 673r 454 326 12,874 Primary Destination United States United States United States Korea United States India India Germany India India
Imports United States India Korea Belgium China Turkey Finland Norway France Morocco
2008 6,014 1,073 842 637 586 508 310 295 280 267 10,812 13,932
2006 6,073 1,474 798 534 510 568 324 372 568 172 11,393 14,756
Primary Source Trinidad Saudi Arabia Indonesia Russia Indonesia Ukraine Russia Russia Netherlands Saudi Arabia
r revised figure Source: IFA Ammonia Statistics January-Decemeber 2008, February 2009.
83

(000 metric nutrient tonnes per year of phosphate)
MAP and DAP

Rank 1 2 3 4 5 6 7 8 9 10 Total Top Ten Exports United States Russia China Morocco Tunisia Lithuania Jordan Australia Korea Turkey 2008 2,578 1,376 843 457 393 328 293 164 70 46 6,548 Total Exports 2007 2,871 1,632 1,797 761 449 347 316 97 74 50 8,394 2006 3,604 1,604 580 775 525 343 332 62 85 15 7,925 Primary Destination India Brazil Brazil Brazil India India India India India India
Imports India Brazil Australia Canada Argentina Japan Thailand Pakistan Vietnam Ethopia
2008 2,620 726 317 260 243 231 171 164 142 130 5,004 6,593
Total Imports 2007 1,328 1,280 331 384 558 222 255 644 350 117 5,468 8,498
2006 1,433 770 215 333 440 250 215 468 380 83 4,598 8,025
Primary Source United States Russia United States United States Russia United States China Russia China Russia
Source: IFA Processed Phosphate Statistics 2008, February 2009.
84

(000 metric nutrient tonnes per year of potassium)
Potash
Rank 1 2 3 4 5 6 7 8 9 10 Total Top Ten Exports Canada Belarus and Russia Germany(1) Israel Jordan USA Spain U.K. Chile 2008(2) 10,084 8,841 2,745 1,931 1,043 265 222 186 102 25,419 Total Exports 2007 10,422 9,793 3,033 2,051 1,005 124 331 221 35 27,015 2006 8,237 8,952 3,015 1,345 870 196 310 269 14 23,208 Primary Destination United States China Brazil India India Mexico France France Peru -
Imports United States Brazil China PR India Indonesia Malaysia France Belgium Japan Poland
2008(2) 4,656 4,101 3,237 2,926 1,144 1,086 902 641 542 497 19,733 26,029
Total Imports 2007 4,710 4,266 5,585 2,360 912 1,060 878 567 401 620 21,359 27,016
2006 4,341 3,279 4,217 2,082 796 958 815 598 370 499 17,955 23,208
Primary Source Canada Canada Russia and Belarus Canada Canada Russia and Belarus Germany Germany Canada Belarus
(1) Germany production includes other forms of primary potash, whereas other countries production is in the form of potassium chloride . (2) 2008 statistics are taken from Fertecon Potash Outlook, June 2009 due to the change to aggregrate reporting by IFA. Source: Fertecon Potash Outlook, June 2009. IFA Potash Statistics 2007, March 2008.
85
Fertilizer Statistics World NPK Consumption

(000 metric nutrient tonnes per year) (Does not include industrial use)
2008/ 2009 N Growth P Growth K Growth
2007/ 2008
2006/ 2007
2005/ 2006
2004/ 2005
2003/ 2004
2002/ 2003
2001/ 2000
2000/ 1999
1999/ 1998
1998/ 1997
1997/ 1996/ 1996 1995
99,410 100,998 96,136 93,196 90,503 87,591 86,059 82,789 82,070 84,918 82,832 81,229 82,364 -1.57% 5.06% 3.15% 2.97% 3.32% 1.78% 3.95% 0.88% -3.35% 2.52% 1.97% -1.38% 5.29% 35,954 38,770 38,946 36,713 37,505 35,035 33,734 33,344 32,812 33,287 33,221 33,301 31,105 -7.27% -0.45% 6.08% -2.11% 7.05% 3.86% 1.17% 1.62% -1.43% 0.20% -0.24% 7.06% 0.44% 24,252 28,346 27,635 25,846 27,654 26,148 23,398 22,855 22,095 21,980 21,842 22,449 20,788 -14.44% 2.57% 6.92% -6.54% 5.76% 11.76% 2.37% 3.44% 0.52% 0.64% -2.71% 7.99% 0.71%
Source: IFA Medium-Term Outlook for Wrold Agriculture and Fertilizer Demand 2008/09-2013/14, June 2009.
Growth in World Fertilizer Consumption

120,000 Million tonnes of Nutrients 100,000 80,000 60,000 40,000 20,000 0 N P Nutrient Type 2000/2001 2008/2009 K
Source: IFA Medium-Term Outlook for World Agriculture and Fertilizer Demand 2008/2009-2013/14-June 2009.
86
Fertilizer Statistics 2009 Total Nitrogenous Fertilizer Supply/Demand Balance

Region(1) West Europe Central Europe East Europe and Central Asia North America Latin America Africa West Asia South Asia East Asia Oceania World
(1) (2)
Capacity 10,293 5,898 21,244 13,107 8,879 5,911 11,615 16,135 60,123 1,656 154,859
Production Capability 9,590 4,634 19,168 11,403 8,245 5,125 9,875 14,501 49,311 1,647 133,499
Non-Fertilizer Use 4,534 727 1,512 4,545 1,148 376 466 469 8,389 652 22,818
Fertilizer Demand 8,261 2,694 3,644 13,098 5,893 2,892 3,054 19,613 40,805 1,079 101,033
Total Demand(2) 13,115 3,506 5,284 18,084 7,217 3,350 3,608 20,584 50,423 1,775 126,946
See Constants and Conversions for IFA Regional Classifications. Includes distribution loss, W.Europe=320, C.Europe=86, E. Europe and C.Asia=129, N.A=441, LAM=176, Africa=82, W.Asia=88, S. Asia=502, E.Asia=1,229, Oceania =43, World, 3,096. Source: IFA Global Fertilizers and Raw Materials Supply and Supply/Demand Balances 2009, June 2009.
2009 Urea Supply/Demand Balance

Capacity 2,628 2,099 6,473 4,941 2,928 2,984 8,081 13,908 35,615 225 79,882
Production Capability 2,335 1,542 5,812 4,564 2,441 2,636 6,850 13,280 31,548 242 71,249
Non-Fertilizer Use 1,656 299 365 1,058 311 81 212 180 3,464 107 7,733
Fertilizer Demand 1,900 1,045 1,093 5,685 3,536 1,735 2,016 17,063 27,456 713 62,241
Total Demand 3,556 1,344 1,458 6,743 3,847 1,816 2,228 17,243 30,919 819 69,973
(1) See Constants and Conversions for IFA Regional Classifications. Source: IFA Global Fertilizers and Raw Materials Supply and Supply/Demand Balances 2009-2013, June 2009.
87
Fertilizer Statistics 2009 Phosphoric Acid Supply/Demand Balance

(000 metric nutrient tonnes per year of phosphate)
(1) (2)
Capacity 1,025 1,087 4,451 9,919 2,309 7,893 2,235 2,146 14,476 600 46,141
Production Capability 844 602 3,140 9,850 2,010 6,930 1,655 1,481 12,733 540 39,785
Non-Fertilizer Use 699 44 222 991 907 523 374 110 1,236 23 5,129
Fertilizer Demand 1,552 515 596 3,952 3,704 800 1,092 6,620 10,676 618 30,125
Total Demand(2) 2,296 570 834 5,042 4,704 1,349 1,495 6,864 12,151 654 35,959
See Constants and Conversions for IFA Regional Classifications. Includes distribution loss W.Europe=45, C. Europe=11, E.Europe and C.Asia=16, N.America=99, LAM=92, Africa=26, W.Asia=29, S.Asia=135, E.Asia=238, Oceania=13, World=705. Source: IFA Global Fertilizers and Raw Materials Supply and Supply/Demand Balances 2009-2013, June 2009.
2009 Potash Supply/Demand Balance

(000 metric nutrient tonnes per year of potash)
Capacity 5,590 12,195 16,010 1,195 3,570 0 3,277 41,837
Production Capability 4,624 11,587 14,419 1,036 3,452 0 2,859 37,978
Non-Fertilizer Use 410 25 35 960 50 65 80 15 1,201 2,841
Fertilizer Demand 2,155 696 1,177 3,684 4,522 414 316 3,524 8,080 297 24,864
Total Demand(2) 2,642 742 1,248 4.737 4,664 488 404 3,646 9,652 302 28,525
(1) (2)
See Constants and Conversions for IFA Regional Classifications. Includes distribution loss W.Europe=77, C. Europe=22, E.Europe and C.Asia=36, N.America=93, LAM=91, Africa=10, W.Asia=8, S.Asia=106, E.Asia=371, Oceania=6, World=820. Source: IFA Global Fertilizers and Raw Materials Supply and Supply/Demand Balances 2009-2013, June 2009.
88
Fertilizer Statistics International Fertilizer Prices - Historical

1,000 900 800 700 US$/tonne 600 500 400 300 200 100 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 (e) Ammonia, Black Sea fob Granular Urea, Arab Gulf fob DAP, Tampa fob Potash, Vancouver fob
(e) estimated (1) 1996-2009 Arab gulf prices an average of granular and prill. Source: Blue Johnson and Associated Inc., The Sheet, May 2009.
89
Fertilizer Statistics World Population vs. Global Fertilizer Consumption
8.00 7.00 Population (billions) 6.00 5.00 4.00 3.00 2.00
250
200 150
100 50
1.00 0.00 1960 1970 1980 1990 2000 2010 (p) 0
Developed Countries/Regions India China
Developing Countries (excl. China and India) Global Fertilizer Consumption
(e) estimated (p) projected Source: IFA Medium-Term Outlook for World Agriculture and Fertilizer Demand 2008/09-2013/14 and World Bank.
Fertilizer Consumption (million tonnes of N+P+K)
90
United States Ethanol Facts

2009/10(p) United States Ethanol Production 11.3
(billion gallons)
2008/09(e) 10.0 3.7
2007/08 8.3 3.0
2006/07 4.9 2.1
2005/06 4.5 1.6
2004/05 3.8 1.3
2003/04 3.4 1.2
Corn Use for Ethanol

(billion bu)
4.2
Percent of Total Domestic United States Corn Use and Exports 32.6%
30.4%
23.8%
19.0%
14.3%
12.4%
11.4%
2008/09 41% Feed Use 35% Ethanol 2011/12 34% Ethanol 2010/11 16% Exports 10% Food and Seed 33% Ethanol 2009/10
One bushel of corn yields approximately 2.7 gallons of ethanol. The key variables in determining ethanol plant profitability include ethanol and dried distillers grains and solubles, prices for revenue corn and natural gas prices for costs. As of July 2009, there were 197 ethanol plants operating in the United States, another 21 are currently under construction or are undergoing an expansion. Ethanol represents the second largest, but fastest growing market for domestically produced corn, coming after livestock feed.
United States Biodiesel Facts

Approximately 10 percent of all soybean oil produced in the United States is used as biodiesel. An acre of soybeans can produce about 63 gallons of biodiesel. An acre of canola can produced about 80 gallons. An acre of palm oil can produce about 8-9 times more biodiesel than an acre of soybeans. It takes 7.35 pounds of soyoil to make a gallon of biodiesel. One bushel of soybean yields approximately 11.5 pounds of soyoil.
(e) estimated (p) projected Source: USDA WASDE Report, Doanes, Renewable Fuels Association, Market Research Analyst, FAPRI Agricultural Outlook.
91
Constants and Conversions
92
Fertilizer Production Process Nitrogen Fertilizer
Phosphate Fertilizer
93
Fertilizer Production Process Potassium Fertilizer Underground Sources

Usually deep deposits - first step is to mine the ore and get it to the surface Manufacturing process (remove unwanted minerals) - clays, NaCl, MgCl2, de-sliming and froth flotation Sizing and granulation - made into final product
Potassium Rock Sources

Sylvinite is composed of a mixture of KCl and NaCl crystals, 20-40% K2O (Saskatchewan mines) Sylvite is extracted from Sylvinite and is composed of primarily KCl, 63% K2O Langebeinite is composed primarily of K2SO4 and MgSO4, 23% K2O
Common Potassium Fertilizers

Potassium Chloride (KCl) muriate of potash (MOP), 0-0-60 to 62 (accounts for 90% of potash sales in North America) Potassium Sulphate (K2SO4) or sulfate of potash, 0-0-50-18S Sulphate of Potash-Magnesia (K2SO4 - 2MgSO4) or K-Mag, 0-0-22-22S-11 Mg Potassium Nitrate (KNO3) 13-0-44 often used in foliar sprays
94
Raw Material Requirements Ammonia (NH3)

The production of 1 tonne of ammonia requires: 32 - 38 mmBtu natural gas or 0.9 tonnes naphtha or 1.05 tonnes fuel oil or 1.90 tonnes coal or 8,000 - 12,000 kWh (electrolysis)
Nitric Acid (HNO3)

The production of 1 tonne of 100% HN03 requires: 0.29 tonnes ammonia
Ammonium Nitrate (34% N)

The production of 1 tonne of 34% N ammonium nitrate requires: 0.436 tonnes of total ammonia is required 0.21 tonnes ammonia 0.78 tonnes of 100% HNO3 (0.226 tonne of ammonia)
Urea
The production of 1 tonne of urea requires: 0.58 tonnes of ammonia 0.76 tonnes of carbon dioxide
UAN
The production of 1 tonne of UAN requires: 28-0-0 Solution 0.386 tonnes of 34-0-0 0.310 tonnes of 46-0-0
32-0-0 Solution
0.443 tonnes of 34-0-0 0.354 tonnes of 46-0-0
Sulphuric Acid (H2SO4)

The production of 1 tonne of 100% H2SO4 requires: 0.76 tonnes pyrites (48% S) or 0.33 tonnes sulphur
95
Raw Material Requirements Ammonium Sulphate

The production of 1 tonne of ammonium sulphate requires: 0.26 tonnes ammonia 0.75 tonnes sulphuric acid
Phosphoric Acid (H3PO4) (Wet Process)

The production of 1 tonne of 100% P2O5 as H3PO4 requires: 3.6 tonnes phosphate rock 63% BPL(1) 2.8 tonnes 100% H2SO4 or 2.3 tonnes 100% HCI
Phosphoric Acid (Thermal Process)

The production of 1 tonne of 100% P2O5 requires: 3.9 tonnes of phosphate rock 63% BPL(1) 1.3 tonnes of silica 0.60 tonnes of coke 13,000 - 15,000 kWh electricity
Superphosphate
The production of 1 tonne of 20% P2O5 single superphosphate requires: 0.71 tonnes of phosphate rock 63% BPL(1) 0.37 tonnes of 100% H2SO4
Triple Superphosphate
The production of 1 tonne of 46% P2O5 triple superphosphate requires: 0.43 tonnes of phosphate rock 63% BPL(1) 0.85 tonnes of 40% P2O5 phosphoric acid (0.34 tonne P2O5)
Monoammonium Phosphate
The production of 1 tonne of monoammonium phosphate (11-53-0) requires: 0.128 tonnes of ammonia 1.91 tonnes of phosphate rock at 63% BPL(1) 0.475 tonnes of sulphur (1.35 tonnes of 40% P2O5 phosphoric acid (40% P2O5)(0.54 tonne P2O5))
Diammonium Phosphate
The production of 1 tonne of diammonium phosphate (18-46-0) requires: 0.219 tonnes of ammonia 1.72 tonnes of phosphate rock at 63% BPL(1) 0.427 tonnes of sulphur (1.175 tonnes of phosphoric acid (40% P2O5)(0.470 tonne P2O5))
(1)
63% BPL = 29% P2O5.
96
Fertilizer Minerals Sulphur Minerals

Iron pyrites Pyrrhotite Gypsum Anhydrite FeS2 Fe6S7 CaSO4.2H2O CaSO4 %S 40-53 40 19 24 %K2O 63 35 17 19 23 16 11 % P205 46 42 41 42
Potash Minerals/Ores
Sylvite Sylvinite Carnallite Kainite Langbeinite Polyhalite Alunite KCl KCl.NaCl KCl.MgCl2.6H20 KCl.MgSO4.3H2O K2SO4.2MgSO4 K2S4.MgSO4.2CaSO4.H2O K2SO4.Al2(SO4)34Al(OH)3
Phosphate Rock
Tricalcium phosphate Fluorapatite Carbonate apatite Hydroxyapatite Ca3(PO4)2 Ca10(PO4)6F2 Ca10(PO4)6CO3 Ca10(PO4)6(OH)2
97
Product Analysis
%N Ammonia, anhydrous Ammonia, aqua Ammonium chloride Ammonium nitrate Ammonium phosphate sulphate Ammonium sulphate Ammonium polyphosphate solution Monoammonium phosphate Diammonium phosphate Nitric acid (100%) Nitric acid (60%) Sodium nitrate Urea Urea ammonium nitrate solutions Urea ammonium phosphate 82 20.5-28 25-26 34.5 16 21 10 11 12 18 22.2 13 16 46 28-32 34 33 29 20.5-28 11.9-15.5 0 0 0 0 0 0 0 0 0 0 0 13 0 % PO
2 5
% KO
2
Calcium ammonium nitrate Calcium nitrate Dicalcium phosphate anhydrous Dicalcium phosphate dihydrate Single superphosphate Triple superphosphate Deflourinated phosphate Fused magnesium phosphate Phosphoric acid 100% Phosphoric acid merchant grade Superphosphoric acid Muriate of potash Potassium sulphate Potassium nitrate Potassium magnesium sulphate
0 0 0 0 20 0 34 52 51 46 0 0 0 0 0 17 20 29 0 0 52.2 41.3 16-22 44-48 37 19-20 74.2 54 70 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 60 50-54 44 21.9
(Florida/PNW/Redwater) (Redwater) (Common)
(Cdn. Common 28%)
98
General Conversion Factors

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Acre Acre Acre Atmosphere Atmosphere Barrel (oil) Cubic foot Cubic foot Cubic foot Cubic foot Cubic foot Cubic meter Cubic meter Cubic meter Cubic meter Cubic meter Degree Fahrenheit Degree Centigrade Dollar/metric ton Dollar/short ton Gallon, Imperial Gallon, Imperial Gallon, US Grain/gallon Grain Sq. foot Sq. meter Sq. meter Sq. mile Sq. mile Ton, long Ton, long Ton, long Ton, long Ton, long/acre Ton, long/sq. ft. Ton, long/sq. inch Ton, metric Ton, metric Ton, metric Ton, metric/hectare Ton, metric/hectare Ton, short Ton, short Ton, short/acre Ton, Brit Shipping Ton, US Shipping Yard = 0.4048 = 4.048 x 10-3 = 43560 = 14.696 = 1.033 = 42 = 2.8317 x 10-2 = 6.2291 = 7.4805 = 28.3170 = 0.025 = 1.308 = 220.0 = 265.0 = 6.289 = 3.5830 x 10 (to the 11th) = (F 32) x 0.556 = (C x 1.8) + 32 = 0.90719 = 1.1023 = 1.201 = 4.5461 = 3.7853 = 17.12 = 2.205 x 10 = 9.29 x 10-6 = 10.764 = 1.196 = 259.00 = 2.590 = 1016.05 = 2240.0 = 1.0161 = 1.120 = 2.511 = 1.0937 x 10-4 = 1.575 = 2204.6 = 0.9842 = 1.102 = 0.3982 = 0.4460 = 907.19 = 2000 = 2.242 = 1.050 = 40.0 = 0.9144
-3
Hectares Sq. kilometers Sq. feet Pounds/sq.inch Kilograms/sq.centimeter Gallons, US Cubic meter Gallons, Imperial Gallons, US Liters Tons, US Shipping Cubic yards Gallons, Imperial Gallons, US Barrels (oil) mmBtu Degree Centigrade Degree Fahrenheit Dollars/short ton Dollars/metric ton Gallons, US Liters Liters Parts/million Pounds Hectares Sq. feet Sq. yards Hectares Sq. kilometers Kilograms Pounds Tonnes Tons, short Tonnes/hectare Kilograms/sq.meter Kilograms/sq.mm Pounds L. tons S. tons L. tons/acre S. tons/acre Kilograms Pounds Tonnes/hectare Tons, US Shipping Cubic Feet Meters
99
Energy Conversion Factors

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Btu Btu Btu/cu.ft. Million Btu Million Btu GJ Million Btu/tonne Million Btu/short ton Million Btu/long ton Calorie Horsepower hr Million kcal/tonne Million kcal/tonne KWh KWh KWh KWh KWh kWh/tonne kWh/short ton = = = = = = = = = = = = = = = = = = = = 0.252 2.931 x 10-4 8.90 1.055 0.9649(1) 0.9145(1) 0.90719 0.2777 0.248 4.186 0.746 4.033 3.601 3.411 859.6 1.34 2.4 3.0 0.90719 1.1023 kcal KWh kcal/m3 GJ Mcf Mcf Million Btu/short ton Million kcal/tonne Million kcal/tonne Joules KWh Million Btu/l. ton Million Btu/s. ton MBtu kcal Horsepower hrs lb HP steam (42 atm) lb HP steam (3 atm) kWh/short ton kWh/tonne
100
Other Constants and Conversions Factors Calorific Values

Natural gas LNG LPG Naphtha Fuel oil Coal Methanol Hydrogen 900-1,100 Btu/ft3 49-53 mmBtu/tonne 46 mmBtu/tonne 44 mmBtu/tonne 40 mmBtu/tonne 20-30 mmBtu/tonne 21 mmBtu/tonne 113 mmBtu/tonne
Nutrient Factors
To Convert P2O5 BPL KCl K2O (K) Florida Rock: Polk County Mardee County Kapuskasing Rock Western U.S. States Rock To BPL P2O7 K2O KCl = = = = Multiply By 2.185 0.4577 0.61 1.6 68-70% BPL 62-66% BPL 83% BPL 70% BPL
101
Other Constants and Conversions Factors Crop Weight Conversions

1 tonne = Barley (Australia, New Zealand) Barley (United States, Canada) Canola/Rapeseed Flaxseed (United States, Canada, Australia) Corn (Maize) (United States, Canada, Australia, New Zealand) Oats (Australia, New Zealand) Oats (Canada) Oats (United States) Potatoes (United States, Canada) Rice, paddy (Australia) Rice, paddy (United States) Rye (Australia) Rye (United States, Canada, United Kingdom, New Zealand) Soya beans (United States) Wheat (generally applicable) 44.092 bu (50 lb) 45.931 bu (48 lb) 44.092 bu (60 lb) 39.368 bu (56 lb) 39.368 bu (56 lb) 55.116 bu (40 lb) 64.842 bu (34 lb) 68.894 bu (32 lb) 36.744 bu (60 lb) 52.490 bu (42 lb) 48.991 bu (45 lb) 36.744 bu (60 lb) 39.368 bu (56 lb) 36.744 bu (60 lb) 36.744 bu (60 lb) 1 bu = 0.022680 tonne 0.021772 tonne 0.022680 tonne 0.025401 tonne 0.025401 tonne 0.018144 tonne 0.015422 tonne 0.014515 tonne 0.027216 tonne 0.019501 tonne 0.020412 tonne 0.027216 tonne 0.025401 tonne 0.027216 tonne 0.027216 tonne
102
IFA Regional Classification 2008 Western and Central Europe

Albania Austria Belgium/Luxembourg Bosnia and Herzegovina Bulgaria** Croatia Czech Republic* Denmark Finland France Germany Greece Hungary*
Western and Central Europe

Iceland Ireland Italy Netherlands Norway Poland* Portugal Romania** Serbia Slovak* Slovenia* Spain Sweden
Western and Central Europe

United Kingdom Switzerland Others
Eastern Europe
Latvia* Lithuania* Moldova Russian Federation Tajikistan Turkmenistan Ukraine Uzbekistan Others
Eastern Europe
Armenia Azerbaijan Belarus Estonia* Georgia Kazakhstan Kyrgyzstan
North America
Canada United States
Latin America and Caribbean

Argentina Brazil Chile Colombia Costa Rica Cuba Dominican Republic Ecuador El Salvador Guatemala Mexico Nicaragua Peru Trinidad/Tobago Uruguay
Latin America and Caribbean

Venezuela Others
Africa
Cote dlvoire Egypt Ethiopia Kenya Libya Mauritius Morocco Nigeria Senegal South Africa Sudan Tanzania Tunisia Zambia Zimbabwe Others
Middle East
Afghanistan Bahrain Cyprus Iran Iraq Israel Jordan Lebanon Oman Qatar Saudi Arabia Syria Turkey United Arab Emirates Yemen Others
Ocenia
Australia Nauru New Zealand Papua New Guinea Others
Africa
Algeria Cameroon
South Asia
Bangladesh India Nepal Pakistan Sri Lanka Others
* **
East Asia
Cambodia China Indonesia Japan Korea, Republic of Korea D.P.R.
East Asia
Laos Malaysia Mongolia Myanmar Philippines Singapore
East Asia
Thailand Taiwan/China Vietnam Others
Source:
Joined the European Union in May 2004. Joined the European Union in January 2007. The designation employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of the International Fertilizer Industry Association (IFA) concerning the legal status of any country, territory, city or area or its authorities, or concerning the delimitation of its frontiers or boundaries. IFA Regional Classification.
103
IFA Regional Classification 1990-2007 Western Europe

Austria Belgium/Luxembourg Denmark Finland France Germany Greece Iceland Italy Netherlands Norway Portugal Spain Sweden Switzerland
Western Europe
United Kingdom Others
Central Europe
Slovak Republic* Slovenia* Others
Eastern Europe and Northern Asia (EECA)

Kazakhstan Kyrgyzstan Moldova Russian Federation Tajikistan Turkmenistan Ukraine Others
Central Europe
Albania Bosnia and Herzegovina Bulgaris Croatia Czech Republic* Hungary* Macedonia Poland* Romania Serbia and Montenegro
Eastern Europe and Northern Asia (EECA)

Armenia Azerbaijan Baltic States Estonia* Latvia* Lithuania* Belarus Georgia
North America
Canada United States
Latin America
Argentina Brazil Chile Colombia Costa Rica Cuba Dominican Republic Ecuador El Salvador Guatemala Mexico Nicaragua Peru Trinidad/Tobago Uruguay
Latin America
Venezuela Others
Africa
Cote dlvoire Ethiopia Kenya Mauritius Morocco Nigeria Senegal South Africa Sudan Tanzania Togo Tunisia Zambia Zimbabwe Others
Middle East
Egypt Iran Iraq Israel Jordan Lebanon Libya Saudi Arabia Syria Turkey Others
Oceania
Australia Nauru New Zealand Papua New Guinea Others
Africa
Algeria Cameroon
Asia
Afghanistan Bangladesh India Indonesia Japan
Asia
Korea Republic Malaysia Myanmar Nepal Pakistan
Asia
Philippines Sri Lanka Taiwan Thailand Others
East Asia
(formerly Socialist Asia)
China Korea D.P.R. Vietnam Others
*Joined the European Union in May 2004.
104
Agrium Inc. Corporate Headquarters 13131 Lake Fraser Drive SE Calgary, Alberta, Canada T2J 7E8 T. (403) 225-7000 NYSE and TSX: AGU www.agrium.com
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Agrium 2009/2010 Fact Book

Agriums Fertilizer Industry

2009/2010 FACT BOOK

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

History and Overview

Agrium 2009/2010 Fact Book

Agrium Timeline 1931-1989

www.CapitalIQ.com, a division of Standard and Poors, October 28, 2009

Agrium 2009/2010 Fact Book

Agrium Timeline 1990-1999

Agrium 2009/2010 Fact Book

Agrium Timeline 2000-Present

Agrium 2009/2010 Fact Book

Production Facilities and Annual Production Capacities Production Capacity

Nitrogen Based Fertilizers Argentina

Nitrogen Based Fertilizers United States

Agriums World Capacity

Upgrade Facilities(3) (Standard and Granum)

3,406,000 1,520,500 2,704,000 215,000 350,000 1,044,000 960,000 2,050,000

Agrium 2009/2010 Fact Book

Production Facilities and Annual Production Capacities Production Capacity

Phosphate Based Fertilizers Canada

Rainbow Plant Capacities(2) United States

Agriums Approximate Share of 2008/09 North America Production Capacity

Ammonia (gross) Urea Phosphate Potash

21.1% 25.2% 9.2% 5.5%

Potash Based Fertilizers Canada

Agriums Approximate Share of 2008/09 Global Production Capacity

Ammonia (gross) Urea Phosphate Potash

1.8% 1.6% 2.2% 2.4%

(1) (2) (3) (4)

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

Agrium 2009/2010 Fact Book

Agrium Retail: Best in Class

Agrium Retail Products

Seed and Other Services

38% Crop Protection

13% Seed and Other Services

Agrium 2009/2010 Fact Book

Crop Production Services (CPS)(1)

Farm Centers/Branches Satellites Terminals Distribution Centers Total

638 211 71 9 929

Agrium 2009/2010 Fact Book

Crop Production Services (CPS)

Pocahontas* Portland Rector* Truman* West Helena** Winchester* Wynne

Hilo Kahului Lihue Pearl City

Chandler Coolidge Poston Tucson Wellton* Yuma

Air Ag Laurel Del* Milford Seaford Seaford** Seaford D.C. Smyrna

Greensboro Jesup Leesburg* Meigs Millen Moultrie (2 locations) Oglethorpe Swainsboro

Arcadia* Belle Glade Boynton Beach

Sylvania* (2 locations) Sylvester` Tifton** Wadley*

Satellites Terminals Distribution Center

Agrium 2009/2010 Fact Book

Crop Production Services (CPS)

Satellites Terminals Distribution Center

Agrium 2009/2010 Fact Book

Crop Production Services (CPS)

South Deerfield Sterling