Nutrien cuts supply of potassium chloride
In the January-March period of 2022, the Canadian fertilizer producer Nutrien reduced the sale of potassium chloride in the North American market by 17% to 1.218 million tons, while in other regions of the world the company increased its supplies by 8% to 1.825 million tons. In general, Nutrien’s sales of potassium chloride decreased by 4% to 3.034 million tons.
However, In 1Q2022 Nutrien has greatly increased the price for potassium chloride by 213% to $684 per 1 ton. In the North American market, the price was increased by 203% to $684 and in other regions by 236% to $557.
Nutrien reports that sanctions imposed against Russia and Belarus by the US and EU in January-March 2022 led to a drop in the supply of potassium chloride by about 20%. In general, the company expects the global market capacity will be 60-65 million tons by the end of this year.