Trump push for potash won’t be enough to replace imports
President Donald Trump has included potash among the minerals that need an immediately ramp up in US production. That’s unlikely to significantly break America’s reliance on fertiliser imports.
The US gets roughly 90% of its potash — used in the production of corn and soybeans, the nation’s two biggest crops — from other countries. Most of that comes from neighbouring Canada, the top producer. US potash production accounts for less than 1% of the country’s total demand, according to Corey Rosenbusch, CEO of the Fertilizer Institute.
“Increased production helps, but we still would be very reliant on Canadian potash,” Rosenbusch said in an interview Friday.
Farmers and fertilizer companies are bracing for possible new US tariffs this week, just as planting season gets under way. The potential for 10% to 25% duties on potash and other Canadian fertilizers coming into the US poses the risk of higher costs for growers that in turn are passed along to consumers.
Rosenbusch said he’s hopeful that Canadian fertilizer might be spared new levies. The Fertilizer Institute, the US lobby for the industry, has been pushing for the federal government to add potash to its permanent list of critical minerals, which are considered essential to US national security and the economy.
While noting there are no guarantees, “we would feel a lot better about our ability to make the case for specific exemptions if it were on the list,” Rosenbusch said.
Michigan Potash & Salt Co. is among companies seeking to ramp up domestic output of potash. The closely held firm has identified a huge potash deposit in Michigan with an estimated value of “up to $65 billion” that can be accessed, according to founder and CEO Theodore Pagano.
The company aims to produce about 10% of the US’s potash needs by 2028, and could ultimately reach as much as 40% with the one reserve, said COO Aric Glasser.
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