Potash network ramps up to meet global demand
Published: Jun 21, 2021
Across Saskatchewan, Nutrien’s role in growing our world from the ground up starts about a kilometer (0.6 miles) underground. This year, we’re growing our world by adding one million more tonnes of potash production to ensure farmers get the potash they need to feed the world.
Earlier this month, we announced that we are increasing potash production by 500,000 tonnes in response to tightening global market conditions. Today we announced a further half-million tonne increase – making it one million more tonnes of potash compared to expectations at the beginning of the year.
"Our world-class, low-cost, integrated network of six mines gives us the flexibility and agility to respond to changing conditions which helps service our customers while doing so when potash prices are at the strongest levels we’ve seen in nearly a decade,” says Ken Seitz, Executive Vice President and CEO, Potash. “As the world’s largest soft rock miner and potash producer, we have the people, the experience and an extensive transportation and logistics system extensive supply chain to safely produce and supply the potash the world needs.”
“This really is a testament to the quality, reliability and trust our customers know Nutrien delivers,” says Chris Reynolds, Senior Vice President, Sales. “The business can focus on safely producing more potash and together we will strive to ensure our customers around the world have the product they need.
While there is continued strength in global demand, supported by strong crop prices in North America, the big difference this year is on the supply side, as other North American potash producers deal with production challenges and the shifting potash landscape in Europe may lead to altering trade flows and further tightening of the global market.
“Nutrien is best positioned to create value in potash and we continue to grow our volumes as demand grows while actively monitoring the market for future opportunities to further leverage our network,” says Ken.
“I want to salute everyone on the potash team for their continued focus on safe production, and for rising to this challenge. When we grow, it’s great news for our employees, customers and communities.”