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Nutrien, the world's largest potash producer, said it is evaluating adding 5 million tonnes of annual capacity after 2023 through expansions of existing Canadian mines. It plans to restore about 5 million tonnes of idled capacity by 2023, reaching 18 million tonnes.
The company also noted BHP is considering entry into potash.
Idled capacity returning and possible expansions add future supply, which is bearish for potash prices over the longer term. Feed buyers should watch fertilizer costs that feed into crop prices.
mining.comMay 28, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
