Potash consumption is clearly driven by the need for food which, in turn, is a function of population. World population is growing by over 70 million people each year. Because the uncultivated land available for increased food production is limited, most of the increased requirements must be obtained by higher yields from existing farmland. This requires increased application of fertilizer nutrients to replace those removed from the soil by crops.
Together, the countries in Canpotex markets contain more than 70% of the world's population, and Canpotex is actively involved in educating farmers about the role of balanced fertilization in increasing agricultural productivity.
Experts continue to forecast steady increases in world potash demand, which has accelerated in recent years with strong economic growth in many countries, increasing interest in biofuels, and strong commodity prices for many of the crops that depend on potash to maximize yields.
* The term "Canpotex markets" refers to 30 selected countries in Asia, Latin America, Oceania, and Africa.
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