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Potash producer to increase production amid tight global supplies
A Canadian fertilizer producer says it’s adding 15 million tons of potash production to the global market amid supply uncertainty.
Nutrien’s interim President and CEO Ken Seitz says expanding production will provide farmers with the crop inputs they need, while monitoring future market conditions.
The company says the increase is one million tons over previous expectations because of supply issues from Eastern Europe.
Nutrien says the impacts from Russia’s invasion into Ukraine are causing supply disruptions in fertilizer and energy commodities and that could cause global food security concerns.
The company’s 2022 potash production is expected to increase by nearly 20 percent compared to 2020 and account for more than 70 percent of global production added over this period. The majority of additional volume is expected to be produced in the second half of the year.