“The challenge of feeding a growing world has never been clearer as global supply constraints have contributed to higher commodity prices and escalated concerns for global food security,” said Ken Seitz, Nutrien’s interim president and CEO. “There is no simple or fast solution to overcome this challenge and we see potential for multi-year strength in agriculture and crop input market fundamentals.”
The announcement comes as fertilizer prices have been soaring after Russia’s invasion of Ukraine. Russia is an important exporter of every major kind of crop nutrient. Market players have been concerned about how much supply will make it out of the country and how global supply chains might change in the aftermath. Some prices have dropped off of records, but they’re still high.
Nutrien will be well-positioned to fill supply gaps, Seitz said.
“Financial sanctions and other restrictions on Russia and Belarus will create…
