Lukashenka looks for measures to increase price of potash

Belarus may reduce potash production to increase world prices for potash fertilizers, Aliaksandr Lukashenka said recently.

As Euroradio reported, on November 4, Lukashenka appointed Andrei Rybakou as the new head of Belaruskali. During the appointment, Lukashenka complained about the meager prices for potash fertilizers and suggested negotiating with the Russians to reduce potash output by 10-11 percent.

"Not that there will be a deficit in the market, but everyone will realize that this is an expensive product, and you have to pay for it accordingly," Lukashenka explained his proposal.

In August 2024, Belaruskali's competitor, the Canadian company Nutrien, said that global prices for potash fertilizers continue to decline. The average price in April-June was $212 per ton—that's less than last year and at the beginning of 2024.

Belaruskali was subjected to EU sanctions in 2022. After that, the volume of potash fertilizer deliveries collapsed by about a third. The company's attempt to get the sanctions lifted through the EU court was unsuccessful.