A composition comprising peat moss and one or more alkoxylates selected from the group consisting of alcohol alkoxylates and alkylphenol alkoxylates and, optionally, one or more polysaccharides, for example guars and/or guar derivatives. A synergistic effect of a combination of the alkoxylates and the polysaccharides was discovered. A method of preparing the peat moss composition and a method of using it are also disclosed.