PJSC Uralkali will cut its second-half potash production by between 350,000 tonnes to 500,000 tonnes due to market headwinds and planned shutdown of its facilities.
The company said Sept. 20 that the production downtime is part of its strategy to avoid excessive output that results in lower prices.
In the first half, Uralkali's potash production fell 3% yearly to 5.7 million tonnes, while sales also dropped 8% to 5.4 million tonnes.
With the move, Uralkali joined other potash producers that recently announced output cuts, which analysts see as an effort to support falling spot prices.
