The company is also expecting an ammonia production deficit
Nutrien’s interim President and Chief Executive Officer, Ken Seitz, has stated that the continued high prices for ammonia are expected to continue over the next five years, as reported by Guardian.
Nutrien’s Chief Economist Jason Newton and its Vice President and CEO of Nitrogen and Phosphate, Raef Sully, explained that the company is expecting the ammonia production deficit in the conventional merchant market to continue until 2027, even without the war in Ukraine.
The global ammonia market is approximately 170 million tons per year and growing at a rate of two and a half to three million tons per year. Over the next five years, a deficit in the conventional market of 8 million tons is expected because of the impact of the current conflict in Eastern Europe, and new potential uses of ammonia are added in.
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