Nutrien plans in 2023 to increase the sales of potassium chloride
The Canadian giant Nutrien expects to sell 13.8-14.6 million tons of potassium chloride in 2023, compared with 12.5 million tons last year, which is 8% less than the result of 2021.
The reason for such an optimistic forecast is the decrease in potassium chloride stocks in warehouses in Brazil and the United States after a decline in potash salt production in the second half of 2022.
“We are now seeing an increase in demand for potash but buyers are cautious about inventory management, which could lead to shorter shipping times as we get closer to the application period,” Nutrien reported in its press-release. “In general, in 2023, global supplies of potassium chloride may reach 63-67 million tons, falling short of the historical maximum of 70 million tons.”
At the same time, Nutrien hopes that the export of potassium chloride from Belarus will reduce by 40-60% and from Russia – by 15-30%, which is unlikely to happen, commented the information and analytical service of Fertilizer Daily.