Global population is expected to continue to grow.
Arable land per person has been steadily decreasing, thus increasing the need for higher crop yields. Global potash demand has grown at a Compound Annual Growth Rate of 3.96% from 2012 to 2021.
Current supply is tight due to recent mine closures, supply discipline from key producers, and a complex geopolitical environment.
Muga will hold an advantageous position within the premium European market, where prices are performing better than in other markets.
Prices have been increasing since 2020 Q3, and have reached historical highs during 2021. This upward trend is expected to extend throughout 2022 due in part to a complex geopolitical environment, as well as strong demand and tight supply conditions. In the long term, with the global population growing, increasing demand for food and arable land decreasing this will drive the need to increase crop yields which in turn will drive demand for fertiliser and potash.