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Fertilizer Markets Roiled by Belarus Potash Force Majeure

Tighter supplies for the key crop nutrient could mean further price hikes

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A Belarusian potash miner that accounts for a major chunk of global supply has declared force majeure, shaking up a market that’s already contending with soaring prices.

Belaruskali said around Feb. 16 that it won’t be able to meet its contracts, according to a letter from an exporter addressed to clients seen by Bloomberg. Shipments have been halted as a result of U.S. and European sanctions.