* Q4 sales down 54 pct but top Street
* Shares rise almost 2 percent post market
HOUSTON July 22 (Reuters) - Fertilizer producer Mosaic Co (MOS.N), which is majority owned by U.S. commodities trading giant Cargill Inc [CARG.UL], posted a sharp decline in quarterly profits on Wednesday, due to weaker sales volumes and pricing.
Still, shares of Mosaic traded nearly 2 percent above its New York Stock Exchange close of $48.42 in post market activity as sales topped Wall Street expectations.
Net income in its fiscal fourth-quarter ended May 31 fell to $146.9 million, or 33 cents a share, down from a year-ago profit of $862.5 million, or $1.93 cents a share.
Mosaic had quarterly net sales of $1.6 billion, a drop of 54 percent from a year earlier. Analysts had expected sales of $1.48 billion, according to Reuters Estimates. (Reporting by Anna Driver; Editing Bernard Orr)