Prices of crop nutrients such as potash have skyrocketed as sanctions against Russia for its invasion of Ukraine have disrupted already tight supplies.
The price increases have raised concerns about food shortages as some farmers apply less fertilizer while boosting profits for producers including Nutrien and Mosaic Co.
In March, Nutrien said it planned to increase output by nearly one million tonnes to about 15 million tonnes this year in response to supply uncertainty from Eastern Europe. Nutrien estimates Russia’s output will drop by two million to six million tonnes this year from its operational capability of about 15 million tonnes. Belarus’ output will fall about six million to eight million tonnes from its capability of about 13 million, the company said.Article content
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