Conversations: Nutrien's Ken Seitz on how Canada can seize its spot on the world stage via financialpost
A group tours the white potash storage facility at the Nutrien Cory Mine, seven kilometres west of Saskatoon. “We have a vast resource in Saskatchewan. It’s an incredible endowment of potash,” said Nutrien chief executive Ken Seitz.That said, Nutrien reckons Belarussian and Russian supply will now be reduced by roughly 50 per cent of 2021 levels this year, after a drop of similar magnitude in 2022. So, Nutrien responded as any profit-driven enterprise would when presented with an opportunity.
Bottom line: 20 per cent of the world’s supply of potash — and 60 per cent of the supply that was projected to come online over the next few years in 2021 — has been crippled. The game has changed and Canada, via Nutrien, could win it. The Bank of Canada had just opted to pause the most aggressive series of interest rate increases in its history, while emphasizing it was far from confident that the hold would last given the level of inflation.
Nutrien sells custom fertilizer mixes directly to farmers at the Nutrien Ag Solutions Retail Facility near Langham, Sask. “We planning our balance sheet for a range of outcomes,” said chief executive Ken Seitz. referencing the fluid global economic situation.
The fertilizer policy went little discussed for more than a year, but it became politicized last fall, and. Seitz talked like someone who was worried the cap could become less voluntary.
But that’s not the world in which we live. Climate change, geopolitics and a broad rethinking of government’s role in the economy means neglecting policy amounts to asking companies to compete against rivals backed by the United States, China and the European Union.To be clear, industrial policy is about more than money. Regulation by several layers of government has become a serious headwind, especially now that Ottawa and the provinces are simultaneously confronting climate change.
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Conversations: Nutrien's Ken Seitz on how Canada can seize its spot on the world stageThe war in Ukraine has crippled a portion of global potash supply. The game has changed and Canada, via Nutrien, could win it. Read on.
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Conversations: Nutrien's Ken Seitz on how Canada can seize its spot on the world stageThe war in Ukraine has crippled a portion of global potash supply. The game has changed and Canada, via Nutrien, could win it. Read on.
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