Potash Market Remains Constrained by Limited New Supply, Favoring Existing Producers

Potash prices are below the incentive level to justify new mine construction, limiting future supply growth. Existing producers with long mine lives and favorable cost positions, such as K+S and Nutrien, are set to benefit if prices move higher. Supply discipline is reinforced by high capital costs and long timelines required to develop new potash projects. Global food demand continues to support long-term potash consumption, despite short-term pricing volatility. Established infrastructure and distribution networks help producers navigate cyclical downturns.