OMAHA (DTN) The global potash (K) market saw limited supply capacity additions in 2020, but new capacity in 2021 could push the market into an unbalanced situation. How the market faces this and several other challenges in the short term will determine the nutrient’s outlook, according to a fertilizer analyst.
Presentations were made on the short-term market outlook at the 2020 T3 Virtual Fertilizer Conference Trends, Technology and Transportation, put on by The Fertilizer Institute (TFI). This new conference replaced TFI’s Fertilizer Outlook and Technology Conference as well as the North America Fertilizer Transportation Conference.
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Hasan Tarique, fertilizers senior consultant for Argus Media, presented the K short-term outlook. The outlook for the K market appears to be slightly unbalanced with potentially more supply additions than demand growth in the short term, he said.
The potash short-term market outlook could see new capacity coming online in 2021, which could push the global market into an unbalanced situation in the coming years. In addition, the market also faces several challenges, including additional risk from the COVID-19 pandemic.