Murray Wood: Who's hot... and who's not
Every Friday, Murray Wood takes a look at the week's news and decides who's hot... and who's not. This week's list inclu...
Agricultural product provider Nutrien’s decision this week to build a US$1-billion potash export terminal in Longview, Washington, rather than in Canada was made to “meet rising demand for Saskatchewan-made potash,” according to a report by Reuters.
The news agency said the the Saskatoon-based company expects to make a final investment decision on the idea in 2027. Previously Nutrien said it was considering Canadian locations as well.
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In a statement provided to CKOM News on Friday, the company said it was focused on ensuring Canadian potash continues to meet rising global demand in the most competitive way possible.
“We assess major projects against a disciplined set of operational, commercial, and financial criteria that reflect a multi-decade time horizon,” the company said.
When asked about reports that federal Transport Minister Steven MacKinnon had requested meetings to persuade them to reconsider the company said: “We meet regularly with government and lines of communication remain open.”
Earlier this month Nutien said it was undertaking a strategic review of its phosphate business and the review could result a reconfiguring of operations, strategic partnerships or a sale.
The company said at the time it intends to “solidify the optimal path” for the division next year.
Nutrien is the second-largest producer of phosphate in North America, with two mines and four upgrade facilities in the United States.
It currently exports potash via Vancouver, Saint John, and Portland. The chemical is used in fertilizers, animal feeds and various industrial applications.
Saskatchewan’s potash is CUSMA (Canada-U.S.-Mexico Agreement) compliant and so untouched by U.S. tariffs. The U.S. market consumes almost half of what the province produces in a year.
Nutrien said in its third-quarter financial report that phosphate markets are tight because of limited supply, including from Chinese export restrictions.
“Global shipments in 2025 have been constrained by supply availability and weaker affordability for phosphate fertilizer has impacted demand,” Nutrien said.
Nutrien posted net earnings of US$469 million for the three months ended Sept. 30, up from US$25 million a year earlier.
Diluted net earnings per share were 96 cents US compared to four cents US per share in the prior year’s quarter.
Sales were US$6 billion versus US$5.35 billion in the year-ago quarter.
Net sales in the phosphate division rose 20 per cent to US$495 million during the third quarter.
— with files by Canadian Press
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