(Reuters) - Potash Corp of Saskatchewan (POT.TO), the world's largest fertilizer producer, plans to further curtail potash production after recent industry data showed that North American potash inventories have risen.
The output cuts reflect a continuing near-term drawdown of inventories as customers work through stockpiles built up before the global economic crisis hit, Potash Corp said in a statement posted to its website on Monday.
The company said it plans to reduce 2009 potash production by an additional 1.5 million tonnes, bringing the total expected curtailments of operational capacity this year to at least 3.5 million tonnes.
Potash Corp said it still expects a strong rebound in potash demand in the second half of 2009 that should continue into 2010.
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