Nutrien Ltd. is expecting strong fundamentals for agricultural commodities to help its business this year.
Mark Thompson, Nutrien’s chief financial officer, said demand for potash is expected to grow in 2026 for the fourth consecutive year.
“We’ve seen good engagement across all major markets, with most benchmark prices approximately 20 per cent higher compared to 12 months ago. We anticipate relatively tight fundamentals through 2026, as trend line demand growth is testing existing global operating and supply chain capabilities,” he said on the company’s fourth-quarter earnings call on Thursday.
Nutrien said it expects potash sales volumes to come in between 14.1 million tonnes and 14.8 million tonnes this year.
Meanwhile, Thompson said nitrogen markets are seeing issues with tight supply while demand is poised to grow amid rising usage in Asian and Latin American markets.
The company expects nitrogen sales volumes to come in between 9.2 and 9.7 million tonnes in 2026.
The Saskatoon-based company, which keeps its books in U.S. dollars, reported fourth-quarter earnings of US$580 million on Wednesday, up from US$118 million the previous year.
Sales totalled US$5.34 billion in the fourth quarter, up year-over-year from US$5.1 billion.
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