Nutrien to boost potash output as market tightens
Canadian fertiliser company Nutrien on Monday announced that it would boost its potash production by about half-a-million tonnes in the second half of the year, compared with earlier expectations.
Nutrien said it would be actively hiring additional employees and adapting its resources to help increase production across most of its potash mines, ramping up its Vanscoy facility in particular.
The announcement comes days after Mosaic announced a production cut of about one-million tonnes, citing flood risks at two of its shafts at its operations in Saskatchewan.
“We are responding to strong market fundamentals to ensure our customers have the crop inputs they need to feed a growing population,” said Nutrien executive VP and CEO of potash, Ken Seitz.
Domestic and offshore potash sales volumes were currently fully committed through September, based on its original production profile for 2021.
The company would announce an upward revision in its potash guidance during its second-quarter results.
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