BHP Sees Potash Heading Toward Deficit as Demand Outpaces Supply

BHP Group, the world’s largest mining company, expects the global potash market to tighten over the next decade as demand grows and geopolitical risks strain fertilizer supply chains.

With demand for the crop nutrient rising 2% to 3% annually, there is limited additional supplies beyond BHP’s Jansen potash project. That adds to a fertilizer supply shock triggered by the war in the Middle East, as farmers worldwide rush to secure critical nutrients. A market deficit is expected by 2035, according to Karina Gistelinck, the group’s head of potash.