Nutrien to slightly delay potash production ramp-up as global sales slump

Nutrien Ltd. will slightly delay the timing of its plan to ramp up potash production, due to slumping sales.

The Saskatoon-based company, which is the largest fertilizer producer in the world, announced disappointing fourth-quarter financial results Wednesday evening. 

Nutrien Ltd. came in below Wall Street estimates, earning $1.1 billion in the fourth quarter of 2022, down seven per cent from the same quarter a year earlier. 

On a conference call with analysts Thursday, CEO Ken Seitz said Nutrien will slightly delay its previously announced plan to increase its annual potash production capability to 18 million tonnes by 2025, and will instead reach that milestone by 2026 instead.