Lukashenka wants to reduce potash fertilizer production

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

As Euroradio reported earlier, on November 4, he appointed Andrei Rybakou as the new head of Belaruskali. During the appointment, Lukashenka complained about the very low prices for potash fertilizers. And offered to negotiate with the Russians to reduce potash production 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, a competitor of Belaruskali, 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 will be subject 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.