High 10 Potash International locations by Manufacturing | Commodities
The potash sector confronted a quantity of headwinds in 2024, resulting in volatility in fertilizer costs for a lot of the 12 months.
Whereas the market stabilized within the first half of 2024, decrease price inputs for potash manufacturing and improved crop manufacturing positioned downward strain on potash costs within the second half of the 12 months.
The World Financial institution expects fertilizer costs to average decrease in 2025 earlier than stabilizing in 2026, whereas remaining nicely above the lows of 2015 to 2019 as a result of robust demand and provide constraints similar to export restrictions from China and sanctions on Belarus and Russia, three of the biggest potash producing international locations.
That is welcome news for potash buyers — many potash-mining operations have closed in recent times, and a few are ready on the sidelines for higher days and enhancements in potash costs.
In response to the 2025 Mineral Commodity Abstract from the US Geological Survey, in 2024, world consumption of potash elevated to 38.8 million metric tons (MT), with the highest areas for potash consumption being Asia and South America. In 2025, potash consumption is projected to complete 40.9 million MT.
The company sees world potash manufacturing capability rising to 76 million metric tons in 2028, up from 65.2 million MT in 2024. Most of the increase will come from new muriate of potash (MOP) mines and project expansions in Laos and Russia. Previous 2028, new MOP mines are anticipated to return online in Belarus, Brazil, Canada, Ethiopia, Morocco and Spain.
The US Geological Survey estimates that world annual potash manufacturing reached 48 million metric tons in 2024, whereas world potash reserves got here in at better than 4.8 billion MT of potassium oxide, or potash, equal. Right here, the Investing Information Community gives a take a look at world potash manufacturing by nation. All manufacturing and reserves information is reported in metric tons of potassium oxide equal.
1. Canada
Potash manufacturing: 15 million metric tons
Potash reserves: 1.1 billion metric tons
Main the checklist of the highest potash international locations by manufacturing is Canada, which produced 15 million metric tons in 2024. The world’s greatest potash producer received even greater in 2024 because it noticed its potash manufacturing stage climb by more than 11 % in comparison with 2023. The prairie province of Saskatchewan is home to all of Canada’s potash manufacturing.
The US Geological Survey stated Canada’s potash output growth was one of the biggest, second solely to Belarus, amongst nations producing the fertilizer mineral in 2024.
“Canada was the leading exporter of potash in the world in 2024, as it increased sales to meet growth in world consumption,” the USGS wrote. Actually, 79 % of US potash imports for the 12 months originated in Canada. This has created concern for the US food industry in 2025 as US President Donald Trump threatens to enact 25 % tariffs on most Canadian imports, together with potash.
There are a number of main gamers in Canada’s potash mining industry. Nutrien (TSX:NTR,NYSE:NTR), the world’s largest potash company. It was born from a 2018 merger between two main crop nutrient firms, Potash Company of Saskatchewan and Agrium. The deal created “a global agricultural giant” now valued at more than C$35 billion. At the moment, the company has six working potash services in Saskatchewan.
The world’s largest potash mine, the Mosaic Firm’s (NYSE:MOS) Esterhazy K3 operation, is succesful of producing almost 8 million MT of the fertilizer mineral annually. Esterhazy K3 has a mine life that extends out to 2054, in accordance with Mining Knowledge On-line (MDO).
Moreover, BHP’s (NYSE:BHP,ASX:BHP,LSE:BHP) Jansen potash project is predicted to start manufacturing from Stage 1 in 2026, and Stage 2, which has additionally begun construction, is deliberate to double Jansen’s capability by the top of the last decade.
2. Russia
Potash manufacturing: 9 million metric tons
Potash reserves: 920 million metric tons
Russia is one other of the world’s largest potash producers, and in 2024, the nation posted 9 million metric tons in potash manufacturing, on par with the earlier 12 months.
Uralkali is Russia’s premier potash company and one of the world’s main potash producers, accounting for roughly 20 % of world provide pre-war. The company has 5 mines and 7 ore remedy and processing mills.
In response to Russia starting its invasion of Ukraine in February 2022, the EU positioned import quotas on potash from Russia, and the US sanctioned particular firms, limiting potash imports. Each the EU and US had eased their restrictions on Russian fertilizer imports in late 2022 in response to growing issues about world food insecurity.
Nonetheless, Russia had set quotas on fertilizer exports till Might 2023 in an effort to guard home provide ranges, and in September that 12 months launched a 7 % obligation for fertilizer merchandise, which expired on the finish of 2024. EU international locations are again weighing tariffs in 2025 as low-cost Russian fertilizer is making it tough for European fertilizer firms to compete.
3. Belarus
Potash manufacturing: 7 million metric tons
Potash reserves: 750 million metric tons
Potash manufacturing in Belarus totaled 7 million metric tons in 2024, up from an estimated 4.5 million MT in 2023. As talked about above, the 56 % leap in manufacturing was the biggest increase in manufacturing among the many world’s potash producing international locations.
Previous to Russia’s invasion of Ukraine, output from the Jap European nation had been on an upward trajectory since 2016. Belaruskali is the nation’s largest industry operator, with six mines and 4 processing factories.
Human rights issues with the Belarusian authorities led the EU and US to position an array of sanctions on Belarus, together with its potash firms, in 2021.
“(In 2024) Belarus production almost returned to levels prior to 2022, when the European Union and the United States placed sanctions on the State-run Belarusian potash-exporting company,” the US Geological Survey states.
The company notes that Belarus potash exports remained nicely under its pre-2022 figures, as a result of Lithuania terminating the contract that permit Belarus export potash from the port of Klaipeda. In 2024, Belarus as an alternative exported its potash merchandise by means of a quantity of Russian ports, and likewise despatched shipments by rail to China.
4. China
Potash manufacturing: 6.3 million metric tons
Potash reserves: 180 million metric tons
China ranks fourth in world potash manufacturing, and its output climbed barely in 2024 to six.3 million metric tons from 6 million MT within the earlier 12 months.
Potash is extraordinarily very important for China — the nation is the biggest shopper of the fertilizer, accounting for about 20 % of world potash consumption. China’s home demand for the fabric is increased than its homegrown potash provide, making the nation reliant on potash imports, particularly in terms of MOP.
The provinces of Xinjiang and Qinghai are home to China’s major potash deposits, and the Qinghai Salt Lake Potash Firm (SZSE:000792) is the nation’s largest potash producer.
5. Germany
Potash manufacturing: 3 million metric tons
Potash reserves: 150 million metric tons
Germany’s potash manufacturing got here in at 3 million metric tons in 2024, up from 2.7 million metric tons in 2023.
The world’s first potash deposits have been found in Staßfurt in Saxony-Anhalt, now a German state, in 1856, and potash mining started at Staßfurt 5 years later. Germany was the world’s solely potash producer till the start of the twentieth century.
Ok+S (ETR:SDF) is one of Germany’s main potash miners and has a quantity of tasks, working six mines in three districts within the nation. The nation can be home to DEUSA Worldwide, a personal company that mines and markets salt-based merchandise together with potash fertilizers.
6. Israel
Potash manufacturing: 2.4 million metric tons
Potash reserves: massive*
In 2024, Israel produced 2.4 million metric tons of potash. Annual potash manufacturing in Israel has remained within the 2 million to 2.5 million MT vary since 2017. The nation recovers potash from the Lifeless Sea.
Israel is sixth in phrases of world potash output, and likewise hosts one of the world’s largest potash-producing firms, Israel Chemical substances (NYSE:ICL,TLV:ICL). Apart from potash, the company produces roughly a third of the world’s bromine, which is commonly extracted from the identical salt water and brine deposits that produce potash.
The outbreak of conflict between Israel and Hamas in October 2023 created some issues over potash provide disruptions. Nonetheless, as a result of demand was decrease than it was when the Russia-Ukraine conflict broke out, a related price shock did not hit the potash market.
* As per the US Geological Survey, “Israel and Jordan recover potash from the Dead Sea, which contains nearly 2 billion tons of potassium chloride.”
7. Jordan
Potash manufacturing: 1.8 million metric tons
Potash reserves: massive*
Potash manufacturing in Jordan elevated marginally to 1.8 million metric tons in 2024 from 1.7 million MT the prior 12 months. Jordan recovers potash from the Lifeless Sea.
Arab Potash Firm, situated in Jordan, is the seventh largest producer of potash by quantity and the only real producer of potash within the Arab area. It has helped make Jordan a key potash provider for India and Asia.
* As per the US Geological Survey, “Israel and Jordan recover potash from the Dead Sea, which contains nearly 2 billion tons of potassium chloride.”
8. Laos
Potash manufacturing: 1.5 million metric tons
Potash reserves: 1 billion metric tons
The Southeast Asian nation of Laos was the eighth largest potash-producing nation final 12 months, with an output of 1.5 million metric tons of potash in 2024. Its 2024 manufacturing was on par with final 12 months and a large leap from the 260,000 MT of potash produced in 2021. The nation additionally hosts the world’s second largest potash reserves after Canada.
Asia-Potash Worldwide Funding (SZSE:000893), one of the biggest potassium fertilizer producers in Asia, is on the helm of the nation’s potash industry. It’s one of the Belt and Street cooperation tasks operated by Chinese language firms.
Laos is in a great place to increase its potash manufacturing within the coming years. Argus stories that in March of 2024, Laos-based potash producer Lao Kaiyuan started construction on its third MOP unit. It’s anticipated to be accomplished by the top of 2025, which can double the company’s present manufacturing capability to 2 million MT per 12 months.
9. Chile
Potash manufacturing: 750,000 metric tons
Potash reserves: 100 million metric tons
Chile recorded manufacturing of 750,000 metric tons in 2024. The South American nation was beforehand a a lot bigger producer, producing 1.2 million MT of potash in 2018, however its manufacturing dropped under 1 million MT in 2019 and has slipped additional since then.
One of the biggest producers of potash within the nation is SQM (NYSE:SQM), which can be a main producer of lithium in Chile. South America is one of the world’s largest potash shoppers.
10. United States
Potash manufacturing: 420,000 metric tons
Potash reserves: 220 million metric tons
In 2024, US potash output totaled 420,000 metric tons, up 30,000 MT from its 2023 stage. The US has potash reserves of 220 million metric tons.
New Mexico is the source for almost all of US potash manufacturing, in accordance with the US Geological Survey. The state is home to 2 underground mines and one deep-well answer mine. Utah can be a sizeable contributor to the nation’s potash industry, with three operations.
Potassium sulfate or sulfate of potash (SOP) and potassium magnesium sulfate (SOPM) characterize about 70 % of the nation’s complete potash manufacturing, with MOP accounting for the rest of manufacturing.
The US’s most prolific potash producers embrace Intrepid Potash (NYSE:IPI) and the Mosaic Firm. Intrepid, which payments itself as the one producer of MOP within the nation, operates an underground mine and a photo voltaic evaporation mine in Carlsbad, New Mexico, in addition to photo voltaic evaporation mines in Wendover and Moab, Utah.
Mosaic has an working potash mine in New Mexico, and the company’s output from that mine and its operations in Saskatchewan, Canada, account for 34 % of potash manufacturing in North America.
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Securities Disclosure: I, Melissa Pistilli, maintain no direct investment curiosity in any company talked about on this article.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
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