Mosaic Predicts Fertilizer Stockpiles Will Need to be Replenished Next Year

fertilizer pile
fertilizer pile
(Farm Journal)

Fertilizer supplier Mosaic Co. anticipates a significant increase in global shipments of potash, a crucial crop nutrient, with an expected rise of 5 MMT, reaching a total of 70 MMT next year. This would mark the highest volume since at least 2021, prior to Russia’s invasion of Ukraine.

Mosaic notes that excess inventories in Brazil, a major agricultural player, have been fully depleted, setting the stage for stronger sales and profits into 2024. Mosaic reported its shipments of potash and phosphate to meet the demand from North American farmers during the spring planting season were the highest in five years.

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