A Canadian fertilizer company based in Saskatoon, Saskatchewan, is the largest producer of potash and the third-largest producer of nitrogen fertilizer in the world.
The company’s interim chief executive Ken Seitz said Nutrien will boost potash production if supply problems worsen in Russia and Belarus, the world’s second- and third-largest potash-producing countries, respectively, after Canada.
The economic sanctions imposed by the United States, the EU and others against Russia may hurt the warring country’s exports of natural gas, potash and nitrogen. Belarus, a puppet state of Russia, has joined the invasion of Ukraine and must adjust to economic sanctions that have restricted its potash exports.
The decision by Putin to wage war against Ukraine further has raised concerns about wheat, corn and vegetable oil supply problems in the Black Sea region. The result is sharply rising world prices for these agricultural products.
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