PotashCorp COO David Delaney told attendees in a presentation at the Bank of America Merrill Lynch Global Agriculture conference last week that the company expected demand for potash could come in at a record 58 million tonnes in 2012.
Delaney also said that the company expects balanced or tight supplies of potash for the next four years.
“Potash prices have hovered around the $500 per tonne level this year after strong gains the past two years, but the many greenfield and brownfield properties coming on line over the next few years adding as much as 17 million tonnes of additional capacity by some estimates will put pressure on prices later in the decade,” according to Mining.com.
The company is planning to aggressively expand its capacity with more than 17 million tonnes by 2015, compared with just less than 12 million tonnes this year.
Listen to the Web cast of the presentation here.