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Amid uncertainty in the world’s fertilizer supply, Nutrien announces capacity expansion
A global fertilizer supplier says it’s increasing production and capacity because of volatility in world energy, agriculture and fertilizer markets.
Nutrien says it will ramp-up potash production by 40 percent by 2025 in response to supply uncertainties from Eastern Europe.
Interim President and CEO Ken Seitz says global supply constraints have contributed to higher commodity prices, input costs and food security concerns.
The company says it will move forward with previously announced plans to add more than 500,000 tons of capacity to its production capabilities by 2025.
Last month, Nutrien announced it would build the world’s largest clean ammonia facility in Louisiana that would utilize natural gas, improve trading routes and capture and sequester carbon.
Nutrien says annual nitrogen sales could increase to nearly 14 million tons by 2027.
