Potash Miners Seek to Expand as Demand for the Mineral Grows
FinancialBuzz.com News Commentary
NEW YORK, July 5, 2023 /PRNewswire/ — Potash is a valuable mineral that is widely used in the production of fertilizers, as well as in various industrial processes. It is a naturally occurring salt that contains potassium in a water-soluble form. Potassium is an essential nutrient for plant growth, and therefore, potash plays a vital role in agriculture as fertilizers containing potash help to improve crop yields and increase plant resistance to disease and pests. Potash also helps to improve the quality of crops by enhancing their flavor, color, and texture. As a result, the market value projections for potash are positive, with the global demand for potash expected to increase due to the growing population and the need for increased food production. And, according to data published by the Business Research Company, the global potash market size will grow from USD 22.04 Billion in 2022 to USD 23.03 Billion in 2023, at a compound annual growth rate (CAGR) of 4.5%. Sage Potash Corp. (OTC: SGPTF) (TSX-V: SAGE), Nutrien Ltd. (NYSE: NTR), FMC Corporation (NYSE: FMC), Intrepid Potash, Inc. (NYSE: IPI), The Mosaic Company (NYSE: MOS)