Saskatoon-based Nutrien is expecting record potash sales this year.
Nutrien has outlined stronger than expected earnings in the first half of this year because of strong global fertilizer markets.
First half of 2021 net earnings are estimated at 2.30 to 2.50 per share, up 30 cents per share from a previous estimate.
Nutrien says in response to continued tightening in global potash markets, the company is flexing its low-cost network of six mines to draw upon available capacity and plan to produce a further half million tons of potash.
That’s in addition to a half million ton increase announced June 7th.
Most of the increase will occur in the fourth quarter with sales in early 2022.
The updated guidance for potash sales volume this year is 13.3 to 13.8 million tons, which would exceed the record of 13 million tons set in 2018.
Nutrien is the world’s largest provider of crop inputs and services.