SIOUX CITY, Iowa, March 26 /PRNewswire-FirstCall/ --
Terra Industries Inc. (NYSE: TRA) announced today that its recent survey
of over 850 corn growers indicates that nitrogen fertilizer consumption should
increase in 2002 because farmers will plant more corn acres and apply
fertilizer at normal rates. Corn growers of various sizes in 13 states
representing about 90% of the total U.S. planted corn acres participated in
the one-on-one telephone survey.
The surveyed corn growers said that they intend to plant about 2 1/2% more
corn acres in 2002 than in 2001. Growers in the Western Corn Belt intend to
increase their corn acreage by more than growers in the Eastern Corn Belt do.
Michael L. Bennett, Terra's President and CEO, said, "We decided to
conduct a formal survey of nitrogen fertilizer users to help us anticipate the
near-term supply/demand situation. We focused on corn growers because corn
acres consume nearly 45% of all nitrogen fertilizers used in the U.S. While
many events could occur that might change the surveyed corn growers'
intentions, we are pleased that our survey results parallel forecasts made by
various crop analysts."
Terra Industries Inc., with 2001 revenues of $1 billion, is a leading
international producer of nitrogen products and methanol.
Information contained in this news release, other than historical
information, may be considered forward looking. Forward-looking information
reflects management's current views of future events and financial performance
that involve a number of risks and uncertainties. The factors that could
cause actual results to differ materially include, but are not limited to, the
following: changes in financial markets, general economic conditions within
the agricultural industry, competitive factors and price changes (principally
selling prices of nitrogen and methanol products and natural gas costs),
changes in product mix, changes in the seasonality of demand patterns, changes
in weather conditions, changes in governmental regulations and other risks
described in the "Factors That Affect Operating Results" section of Terra's
current annual report.
Note: Terra Industries' news announcements are also available on its web
site, http://www.terraindustries.com , and by fax at no charge by calling
800-758-5804, code 437906.
SOURCE Terra Industries Inc.
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Related links:
http://www.terraindustries.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/437906.html
CONTACT:
Mark Rosenbury for Terra Industries Inc.,
+1-712-279-8756
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