Nutrien (NTR), the world’s biggest fertilizer company, is increasing its production capacity as
food prices continue to rise.
The Saskatoon, Saskatchewan-based company said it will ramp up its potash production to 18
million tons by 2025, a 40% increase compared to 2020.
“The challenge of feeding a growing world has never been clearer as global supply constraints
have contributed to higher commodity prices and escalated concerns for global food security,”
said Ken Seitz, Nutrien’s interim president and chief executive officer (CEO), in a news release.
The announcement comes as fertilizer prices have been soaring after Russia’s invasion of
Ukraine. Russia is an important exporter of every major kind of crop nutrient. Market observers
are increasingly concerned about global fertilizer supplies and how global supply chains might
change in the aftermath of the war in Ukraine.
Nutrien said it is well-positioned to fill supply gaps, now and in the future. Canada is the world’s
largest potash producer, followed by Russia and Belarus.
Year to date, Nutrien’s stock has gained 24% to trade at $113.31 a share.
