Belarusian potash supplier cuts production, says BMO Capital

BMO Capital says Belarusian potash supplier Belaruskali is cutting 1 metric ton of potash production in the first half of 2025 for efficiency improvements at one of its mines. Considering a 71M-73M metric ton per year global potash market with Belaruskali producing 10.5M last year, this represents a 1.5% market production loss with greater first half of the year impact, the analyst tells investors in a research note. Potash prices have been improving and this development should help the positive dynamic continue, contends BMO. Names in the potash space include Mosaic (MOS), Nutrien (NTR), and Intrepid Potash (IPI) (IPI.