Nutrien will slightly delay the timing of its plan to ramp up potash production, due to slumping sales.
The Saskatoon-based company, which is the largest fertilizer producer in the world, announced disappointing fourth-quarter financial results Wednesday evening.
However, Seitz said long-term fundamentals for potash remain strong, and Nutrien simply wants to be flexible and adjust its plans to match the pace of demand recovery. To meet increased global demand, Nutrien announced its potash ramp-up plan, which represents an increase of more than five million tonnes, or 40 per cent, compared to 2020 production levels.
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