Mosaic Co., the world’s largest phosphate producer, reported first-quarter earnings that missed analyst estimates. Total potash production is expected to exceed recent historical levels for the remainder of 2022, the company said Monday in a statement.
Nutrien has said it will increase potash production to fill a worldwide deficit. Russia and Belarus account for about 40% of global potash output and exports, and sanctions and other restrictions imposed on the countries have “significantly constrained supply,” the company said Monday in a statement.
Nutrien has raised 2022 potash sales volume guidance to between 14.5 to 15.1 million tons, with the majority of the extra capacity to be produced in the second half of the year.
“We are estimating a wider than normal range of global potash shipments given the level of uncertainty of supply from Russia and Belarus,” according to the statement.
Nutrien has yet to name a…
