The Potash Industry Is Entering Its 4th Wave, And Geopolitics Are A Defining Factor

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Jun 15, 2023

WEST VANCOUVER, BC / ACCESSWIRE / June 15, 2023 / Potash, an alkaline potassium compound, is a vital fertilizer component and plays a crucial role in the agricultural industry. The fertilizer ingredient first came on the market in 1960 following World War II, and since then the industry has experienced three major waves of heightened demand. The first wave was from the 1960s-1980s and was largely dominated by Canada's Saskatchewan deposit. The second wave from 1990 to the early 2000s was led by Russia after the disintegration of the Soviet Union. Scholars have marked the third wave as growing global demand for potash and a price upswing that started in the early 2000s and lasted until around 2020. The same scholars are now predicting that the potash industry is entering a fourth wave that will be marked by price increases, project uncertainties and geopolitical unrest. According to the U.S. Geological Survey, Canada, Russia, Belarus and China are currently the world's top producers of potash.