Given the war in Ukraine and the global uncertainty of supply from Eastern Europe, Nutrien is looking at increasing its potash production by nearly 20 percent.
Interim President and CEO Ken Seitz says while they hope for an immediate de-escalation of the conflict in Ukraine, there's concern over the impact it will have on global food security with the supply of key agriculture, fertilizer and energy commodities.
"Nutrien is responding to this period of unprecedented market uncertainty by safely expanding potash production to help provide our customers with the crop inputs they need. We continue to closely monitor market conditions and will evolve our long-term plans to ensure we utilize our assets in a safe and sustainable manner that benefits all our stakeholders."
The company announcing plans to increase it's 2022 potash production to approximately 15 million tonnes.
The move marks an increase of nearly one million tonnes, the majority of which is expected to be produced in the second half of the year.
Nutrien notes that the increased production at it's mines in Saskatchewan will also result in the hiring of additional staff across the network.
Nutrien is the world's largest provider of crop inputs and services, producing and distributing approximately 27 million tonnes of potash, nitrogen and phosphate products world-wide.
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