Nutrien increases potash production due to uncertainty in Eastern Europe

Saskatoon-based Nutrien says it is increasing its potash production capacity due to potash supply uncertainty from Eastern Europe due to Russia’s invasion of Ukraine .

Nutrien said production would increase by almost a million tonnes to around 15 million tonnes in 2022.

Most of the additional volume will come in the second half of the year, the company said.

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Canada is the largest potash producer in the world, but Russia and Belarus are also major exporters.

“The impacts of this conflict extend beyond Eastern Europe, as a disruption in the supply of key agricultural products, fertilizers and energy could have implications for global food security,” said Thursday. Ken Seitz, Interim President and CEO of Nutrien.

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“Nutrien is responding to this period of unprecedented market uncertainty by safely increasing potash production to help provide our customers with the agricultural inputs they need.

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Potash production at Nutrien is expected to increase nearly 20% from 2020 and will account for more than 70% of global production during that period, the company said in its statement.

The company expects a slight increase in capital spending for 2022 and said it will hire additional employees at its mines in Saskatchewan.

“We continue to closely monitor market conditions and will evolve our long-term plans to ensure we use our assets in a safe and sustainable way that benefits all of our stakeholders,” Seitz said.

with a file from The Canadian Press

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Impact of the Russian invasion of Ukraine on Saskatchewan’s economy

Impact of the Russian invasion of Ukraine on the Saskatchewan economy – March 10, 2022

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Mary I. Bruner