Sanctions on exports of potash fertilizer from Belarus and Russia are not impacting supply in China, an executive from state-owned fertilizer maker Sinofert Holdings said, due to sufficient domestic stocks.
Belarus and Russia are among the world’s top three producers of potash, and China is a major importer.
Exports from Belarus were sanctioned by Washington last year after the country’s president crushed protests following elections in 2020.
Western nations have issued new sanctions on it for supporting Russia’s invasion of Ukraine, while tough economic sanctions are also in place on Russian exports.
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China produces about 5.5 million tonnes of potash, and also has some strategic reserves and commercial stocks, Feng Mingwei, executive director of Sinofert told reporters, allowing it to “maintain a relatively normal state.”
China said March 21 it was releasing one million tonnes of potash reserves ahead of spring planting.
Feng added, however, that the company, a unit of Syngenta Group and the country’s top fertilizer producer, was in discussions on next steps.
“We are also using legal means and some experts to conduct research to decide the next step,” he said.
Washington gave clients of the Belarus Potash Company until April 1 to wind down their business with the firm.
Potash prices are near a 10-year high, and the recent sanctions are fuelling fears of food shortages globally.
