Nutrien, CF Industries rise on plans to offset lower Russian potash imports

Intrepid Potash

17/03/2022 14:45

(Updates)
    ** U.S. and Canada-listed shares of world's biggest
fertilizer maker  NTR.N ,  NTR.TO  rise as much as ~4.7% each
    ** CF Industries  CF.N , owner of world's largest nitrogen
complex in Louisiana, jumps as much as 3.2% 
    ** NTR said on Wednesday it plans to increase potash output
by nearly 1 mln tonnes this year to about 15 mln tonnes in
response to uncertainty of supply from Eastern Europe
 urn:newsml:reuters.com:*:nL3N2VK04F
    ** NTR said higher potash volume is expected to be produced
in H2
    ** CF's CEO on Wednesday said co is increasing fertilizer
shipments to both U.S. coasts from Louisiana complex to help
offset decline in exports from Russia  urn:newsml:reuters.com:*:nL2N2VJ265
    ** Other fertilizer cos Mosaic  MOS.N  and Intrepid Potash
 IPI.N  climb 4.4% and 11.6%, respectively; MOS among top 5 pct
gainers on S&P 500 Index  .SPX 
    ** Prices of potash, a key input in nitrogen-containing
fertilizers, have soared since economic sanctions were imposed
against Russia after its invasion of Ukraine  urn:newsml:reuters.com:*:nL3N2VA3ME
    ** Russia previously accounted for 15% of U.S. nitrogen
imports

 (Reporting by Rithika Krishna and Ruhi Soni in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))