Canada’s Nutrien (TSX, NYSE: NTR), the world’s largest potash miner, sees supply shortages of fertilizer getting worse due to the ongoing and escalating Russian invasion of Ukraine, two of the world’s top fertilizer producers.
Interim chief executive Ken Seitz, who took the helm in January after the sudden resignation of Mayo Schmidt, told a BMO Capital conference that Russia’s invasion could result in prolonged disruptions to the global supply of potash and nitrogen crop nutrients.
The executive said Nutrien was ready to increase potash production if it sees sustained supply problems in Russia and Belarus, the world’s second- and third-largest potash producing countries after Canada.
Nutrien has said it expects to sell as much as 14.3 million tonnes of potash this year, its most ever, and Seitz said the company plans to run its plants “flat out” as it braces for exports interruptions and plant closures from Russia.
For the rest of this article: https://www.mining.com/nutrien-sees-long-lasting-disruption-to-fertilizer-market-from-russias-invasion/