Canada’s Potash Corp announced last week it would temporarily shut down production at two Canadian mines, as part of a longstanding strategy to match supply to demand. Reuters says the company will curtail output at one facility for ten weeks starting November 19th, and for eight weeks at another facility starting December 3rd. It said the number of temporary layoffs had not been determined. The company is attempting to lower the excess supply of potash, adjusting inventory to better reflect demand. The move comes as Potash Corp is in the midst of seeking regulatory approvals for a merger with competitor Agrium. Potash is a major ingredient in most commercial fertilizers, as potassium from potash is often referred to as the “regulator” in crop production.
From the National Association of Farm Broadcasting News Service.