Nutrien to boost potash production by 1 million tonnes amid worries about food security – by Kevin Carmichael (Financial Post – March 18, 2022)

Affordable fertilizer will be key to increasing the supply of food if fewer acres are to offset a harvest that excludes Russia and Ukraine

Nutrien Ltd., the world’s biggest maker of fertilizers, pledged to do its part in fighting global food inflation, stating overnight on March 16 that it will increase potash production by “almost” one million tonnes in the second half of 2022, pushing total production this year to about 15 million tonnes.

The announcement comes amid serious worry that Russia’s invasion of Ukraine will cause a spike in hunger in places such as Egypt and Iran, and economic stagnation in richer countries like Canada.

“Our thoughts and sympathies are with those impacted by the crisis in Ukraine and we hope for an immediate de-escalation of this conflict,” Ken Seitz, Nutrien’s interim chief executive, said in a press release.

“The impacts of this conflict extend beyond Eastern Europe as a disruption in supply of key agriculture, fertilizer and energy commodities could have implications for global food security.”

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