Nutrien may cut its potash production due to sales problems

The Canadian giant Nutrien, one of the world’s largest fertilizer producers, may slow down its potassium fertilizer production increase due to falling sales and prices for the product. Potassium fertilizers are one of the most important components for crop growth, which makes their sales extremely important for the agricultural industry.

Potash prices have fluctuated significantly in recent years due to macroeconomic factors and sanctions against major producers in Russia and Belarus. This has led to farmers buying less potash, and prices have come down again.

Nutrien’s expansion, which includes the construction of four mines in Saskatchewan, will be delayed for a year. By 2026, the company plans to increase its capacity to 18 million tons. Nutrien is also considering slowing down its potassium expansion to meet market needs.

However, CEO Ken Seitz notes that demand for the company’s products is growing in North America and Brazil, and Russia and Belarus will export 30% less products than in previous years.