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SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 40-F

|            |  |                                                                                        
|----------- |  | ---------------------------------------------------------------------------------------
|(Check One) |  |                                                                                        
|           
|o           |  | Registration statement pursuant to Section 12 of the Securities
Exchange Act of 1934   
|           
|            |  | or                                                                                     
|           
|x           |  | Annual report pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934

|                        |  |                  
|----------------------- |  | -----------------
|For fiscal year ended:  |  | December 31, 2002
|                       
|Commission File number: |  | No. 001-14460    

AGRIUM INC.
(Exact name of registrant as specified in its charter)

Canada(Province or other jurisdiction of incorporation or organization)

2873/5191(Primary standard industrial classification code number, if applicable)

91-158568(I.R.S. employer identification number, if applicable)

13131 Lake Fraser Drive S.E.
Calgary, Alberta
T2J 7E8 Canada
(403) 225-7000(Address and telephone number of registrants principal executive office)

CT Corporation System
111 Eighth Avenue, 13th Floor
New York, New York 10011
U.S.A.
(212) 894-8700(Name, address and telephone number of agent for service in the United States)

Securities registered pursuant to Section 12(b) of the Act:

|                     |  |                                           
|-------------------- |  | ------------------------------------------
|Title of each class: |  | Name of each exchange
on which registered:
|                    
|Common Shares        |  | New York Stock Exchange                   

Securities registered or to be registered pursuant to Section 12(g) of the Act:

Not Applicable

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

Not Applicable

For annual reports, indicate by check mark the information filed with this form:

|                          |  |                                      
|------------------------- |  | -------------------------------------
|x Annual Information Form |  | x Audited Annual Financial Statements

Indicate the number of outstanding shares of each of the issuers classes of
capital or common stock as of the close of the period covered by the annual
report:

|              |  |            
|------------- |  | -----------
|Common Shares |  | 125,961,263

Indicate by check mark whether the registrant by filing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
(the Exchange Act). If Yes is marked, indicate the file number assigned to
the registrant in connection with such rule.

|      |  |     
|----- |  | ----
|Yes o |  | No x

Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13(d) or 15(d) of the Exchange Act during the
proceeding 12 months (or for such shorter period that the registrant has been
required to file such reports); and (2) has been subject to such filing
requirements in the past 90 days.

|      |  |     
|----- |  | ----
|Yes x |  | No o



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UNDERTAKING AND CONSENT TO SERVICE OF PROCESS



|A. |  | Undertaking                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   |  | Agrium Inc. (the Registrant) undertakes to make available, in
person or by telephone, representatives to respond to inquiries made by the
staff of the Securities and Exchange Commission (SEC), and to furnish
promptly, when requested to do so by the SEC staff, information relating to
the securities in relation to which the obligation to file an annual report
on Form 40-F arises or transactions in said securities.
|  
|B. |  | Consent to Service of Process                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|   |  | The Registrant has previously filed with the SEC a Form F-X in
connection with the Common Shares.                                                                                                                                                                                                                                                                                                                                  

CONTROLS AND PROCEDURES



|A. |  | Evaluation of Disclosure Controls and Procedures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|-- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|   |  | The Registrant maintains disclosure controls and procedures and
internal controls designed to ensure that information required to be
disclosed in the Registrants filings under the Securities Exchange Act of
1934 is recorded, processed, summarized and reported within the time period
specified in the Securities and Exchange Commissions rules and forms. The
Registrants principal executive officer and its chief financial officer,
after having evaluated the effectiveness of the Registrants disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14(c) and
15d-14(c)) on March 31, 2003 have concluded that, as of such date, the
Registrants disclosure controls and procedures were adequate and effective
to ensure that material information relating to the Registrant and its
consolidated subsidiaries would be made known to them by others within
those entities.
|  
|B. |  | Changes in Internal Controls                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|  
|   |  | There were no significant changes in the Registrants internal
controls or in other factors that could significantly affect the
Registrants internal controls subsequent to the date of their evaluation,
nor were there any significant deficiencies or material weaknesses in the
Registrants internal controls. As a result, no corrective actions were
required or undertaken.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             





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SIGNATURES

Pursuant to the requirements of the Exchange Act, the registrant certifies
that it meets all of the requirements for filing on Form 40-F and has duly
caused this annual report to be signed on its behalf by the undersigned,
thereto duly authorized.

|                    |  |             |  |                                        
|------------------- |  | ----------- |  | ---------------------------------------
|                    |  | AGRIUM INC.
|                    |  |             |  |                                        
|                    |  |             |  |                                        
|Date: April 3, 2003 |  | By:         |  | /s/ John M. Van Brunt                  
|                    |  |             |  |                                        
|                    |  | Name:       |  | John M. Van Brunt                      
|                    |  | Title:      |  | Vice Chairman & Chief Executive Officer





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CERTIFICATIONS

I, John M. Van Brunt, Vice Chairman & Chief Executive Officer of Agrium Inc., a
Canadian corporation, certify that:



|1. |  | I have reviewed this annual report on Form 40-F of Agrium
Inc. (the registrant);                                                                                                                                                                                                                                      
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|2. |  | Based on my knowledge, this annual report does not contain
any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading
with respect to the period covered by this annual report;
|  
|3. |  | Based on my knowledge, the financial statements, and other
financial information included in this annual report, fairly present
in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the
periods presented in this annual report;                   
|  
|4. |  | The registrants other certifying officers and I are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
the registrant and have:                                                                                                  



| | (a) |  | Designed such disclosure controls and procedures
to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly
during the period in which this annual report is being
prepared;
| | --- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | (b) |  | Evaluated the effectiveness of the registrants
disclosure controls and procedures as of a date within 90 days
prior to the filing date of this annual report (the
Evaluation Date); and                                                                                                  
|
| | (c) |  | Presented in this annual report our conclusions
about the effectiveness of the disclosure controls and
procedures based on our evaluation as of the Evaluation Date;                                                                                                                        



|5. |  | The registrants other certifying officers and I have
disclosed, based on our most recent evaluation, to the registrants
auditors and the audit committee of the registrants board of
directors (and persons performing the equivalent function):
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) |  | All significant deficiencies in the design or
operation of internal controls which could adversely affect
the registrants ability to record, process, summarize and
report financial data and have identified for the registrants
auditors any material weaknesses in internal controls; and
| | --- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





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| | (b) |  | Any fraud, whether or not material, that involves
management or other employees who have a significant role in
the registrants internal controls; and
| | --- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------



|6. |  | The registrants other certifying officers and I have
indicated in this annual report whether there were significant
changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of our
most recent evaluation, including any corrective actions with regard
to significant deficiencies and material weaknesses.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Date: April 3, 2003.



/s/ John M. Van Brunt

John M. Van Brunt
Vice Chairman & Chief Executive Officer





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I, Bruce G. Waterman, Senior Vice President, Finance & Chief Financial Officer
of Agrium Inc., a Canadian corporation, certify that:



|1. |  | I have reviewed this annual report on Form 40-F of Agrium
Inc. (the registrant);                                                                                                                                                                                                                                      
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|2. |  | Based on my knowledge, this annual report does not contain
any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading
with respect to the period covered by this annual report;
|  
|3. |  | Based on my knowledge, the financial statements, and other
financial information included in this annual report, fairly present
in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the
periods presented in this annual report;                   
|  
|4. |  | The registrants other certifying officers and I are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
the registrant and have:                                                                                                  



| | (a) |  | Designed such disclosure controls and procedures
to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly
during the period in which this annual report is being
prepared;
| | --- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | (b) |  | Evaluated the effectiveness of the registrants
disclosure controls and procedures as of a date within 90 days
prior to the filing date of this annual report (the
Evaluation Date); and                                                                                                  
|
| | (c) |  | Presented in this annual report our conclusions
about the effectiveness of the disclosure controls and
procedures based on our evaluation as of the Evaluation Date;                                                                                                                        



|5. |  | The registrants other certifying officers and I have
disclosed, based on our most recent evaluation, to the registrants
auditors and the audit committee of the registrants board of
directors (and persons performing the equivalent function):
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) |  | All significant deficiencies in the design or
operation of internal controls which could adversely affect
the registrants ability to record, process, summarize and
report financial data and have identified for the registrants
auditors any material weaknesses in internal controls; and
| | --- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | (b) |  | Any fraud, whether or not material, that involves
management or other employees who have a significant role in
the registrants internal controls; and                                                                                                                                        





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|6. |  | The registrants other certifying officers and I have
indicated in this annual report whether there were significant
changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of our
most recent evaluation, including any corrective actions with regard
to significant deficiencies and material weaknesses.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Date: April 3, 2003.



/s/ Bruce G. Waterman
Bruce G. Waterman
Senior Vice President, Finance & Chief Financial Officer





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EXHIBIT INDEX

|         |  |                                                                                                                                                 
|-------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibits |  | Description                                                                                                                                     
|         |  |                                                                                                                                                 
|1        |  | Annual Information Form for the Year Ended December 31, 2002                                                                                    
|2        |  | Managements Discussion and Analysis from the 2002 Annual Report
to Shareholders                                                                
|3        |  | Audited Annual Financial Statements                                                                                                             
|4        |  | Consent Letter from KPMG LLP                                                                                                                    
|5        |  | Certification of John M. Van Brunt pursuant to 18 U.S.C. Section
1350, as enacted pursuant to Section 906 of the U.S.
Sarbanes-Oxley Act of 2002
|6        |  | Certification of Bruce G. Waterman pursuant to 18 U.S.C. Section
1350, as enacted pursuant to Section 906 of the U.S.
Sarbanes-Oxley Act of 2002