Nutrien expects higher global potash demand, eyes future of its phosphate business

By Ed White

WINNIPEG, MANITOBA, Nov 6 (Reuters) - Canadian fertilizer producer Nutrien NTR.TO said on Thursday it expects higher global potash demand in 2026 as big crop use this year and tight supplies lead to increased sales.

The company also expects to determine in 2026 the future of its phosphate business, which is a secondary fertilizer for the company, generating about 6% of its earnings. The company might "revise and reconfigure" the operations, look for partnerships, or sell its assets, CEO Ken Seitz said on a third-quarter conference call with analysts.

"The timing is good for that," said Seitz. Phosphate prices are high in North America, there are attempts in the U.S. to declare phosphate a strategic mineral, and the price outlook is strong, he said.

"It's a supply story," said Seitz.

Global potash demand is expected to grow for a fourth straight year due to big 2025 crops that depleted soil nutrients.

• Global potash shipments are expected to be 74 million to 77 million metric tons in 2026, up from 73 million to 75 million in 2025, with diminished supplies in places like China driving purchases.

• Nutrien is managing an idled nitrogen fertilizer plant in Trinidad, which it shut down in October because of long-running concerns about port access and an affordable natural gas supply. The company said the operation produces an insignificant portion of its earnings and its lost production is being mitigated by production elsewhere.

• The company expects about C$900 million from ongoing divestitures of non-core assets in South America.

• Seitz said the non-core divestitures and search for "strategic alternatives" for the phosphate business are being driven by the company's drive to boost profitability.