Mosaic notes that the Colonsay mine had been operating at an annual run rate of 1.3 million tonnes.
The company says inventory levels are sufficient to meet near-term demand with demand returning slower than expected in the second half of 2022.
In a press release announcing the move, President and CEO Joc O'Rourke says the decision to temporarily curtail Colonsay reflects near-term dynamics and not long-term agricultural market fundamentals.
"Crop prices remain strong and continue to support healthy grower economics. After a year of reduced applications, we believe farmers are incentivized to maximize yields, which should drive significant recovery in fertilizer demand in 2023."
The company has been looking at a potential increase in annual output at the Colonsay mine of 1.8 to 2 million tonnes by late 2023 with the restart of its second mill.