Nutrien wants to take advantage of market uncertainty
The Canadian fertilizer producer Nutrien intends to increase the output of potassium chloride by 1 million tons by the end of 2022, taking advantage of the situation developing in the global market. Due to the US and EU sanctions against Russia, many countries are facing problems with the supply of potassium chloride.
“Nutrien is responding to this period of market uncertainty by expanding its production of potassium chloride to supply agricultural customers. We are closely monitoring market conditions and adjust our long-term plans accordingly,” said Ken Seitz, Acting President and CEO of Nutrien.
In 2022, Nutrien plans to increase the production of potassium chloride by almost 20% compared to 2020.
“It’s clear that the management of Nutrien wants to knock out Uralkali and Belaruskali from the global market, taking advantage of the current situation. However, such plans are unlikely to come true, since Nutrien does not have capacities to completely replace Russian companies in the market,” commented the information and analytical service of Fertilizer Daily.