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NUTRIEN'S CEO REPORTS CONTINUED SHORTAGES OF POTASH FERTILIZER
Dec. 5, 2022
by Elizabeth Elkin, Feedstuffs
The top executive of the world's largest fertilizer company sees a worldwide shortage of agricultural inputs ahead as "export challenges" keep Russia and Belarus supplies from reaching global markets.
"Russia and Belarus are just enormous producers of fertilizer," Nutrien Ltd. Chief Executive Officer Ken Seitz said Thursday in an interview at Bloomberg's New York headquarters. "There are export challenges in the region. That's certainly going to have a material impact on the markets."
Two of the biggest producing nations of potash -- a key type of fertilizer -- ended up exporting less due to trade restrictions and war. Seitz sees shipments from Belarus being at least half of those in 2021, after earlier expecting them to be down by one third to two thirds. The CEO estimates that Russia's exports are down as much as 25%.
"The world is going to have to look to the other breadbaskets of the world to fill that supply gap for food," he said.
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