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Gold/Mining/Energy : Verde Agritech
NPK.TO 0.930-15.5%Nov 12 3:59 PM EST
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From: kidl3/2/2022 10:22:21 AM
   of 16582
 
Nutrien CEO sees prolonged global fertilizer disruption from Russia's invasion

Mar. 01, 2022 6:36 PM ET Nutrien Ltd. (NTR) By: Carl Surran, SA News Editor 19 Comments

Ramil Nasibulin/iStock via Getty Images

Nutrien (NYSE: NTR) shares surged to an all-time intraday high of $88.41 during Tuesday's trading before pulling back, with markets jittery that the fertilizer supply shortage could get worse because Russia and Ukraine are major fertilizer producing countries.

Interim CEO Ken Seitz told a BMO Capital conference that Russia's invasion could result in prolonged disruptions to the global supply of potash and nitrogen crop nutrients, according to Reuters.

Seitz said Nutrien would raise potash production if it sees sustained supply problems in Russia and Belarus, the world's second- and third-largest potash producing countries after Canada.

Nutrien has said it expects to sell as much as 14.3M metric tons of potash this year, its most ever, and Seitz said the company plans to run its plants "flat out" but is bracing for interruptions and plant closures from Russia.

Nutrien "continues to benefit from rising margins and its ability to ramp up potash production when it matters most," Leo Nelissen writes in a bullish analysis published on Seeking Alpha before Russia's invasion of Ukraine.
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